1994–1997
Foundation
1994
Sergey Galitsky founds Tander, a wholesale distributor of cosmetics
and household cleaning products.
1996
The wholesale business expands rapidly, securing its position among
Russia’s Top 10 distributors of cosmetics, household cleaning products, and perfumery goods.
1997
The Company diversifies into food retail, launching operations
as a Cash&Carry operator.
1997, Cash&Carry format
1998–2001
The beginnings
1998
The Magnit brand is established, deriving from the Russian
“Магазин низких тарифов” (Low-Tariff Store).
1998, brand establishment
1999
The Company sets up its dedicated transport enterprise – Selta.
The first private label range debuts.
2000
Magnit switches to a discounter business model.
With the opening of its first 160 stores, Magnit emerges as Russia’s
leading retailer by network size.
160
stores
2002–2005
Retail focus
2002
The first distribution centre Kropotkin commences operations
in the Krasnodar Territory.
2002, Kropotkin distribution centre in the Krasnodar Territory
2003
The retail network is revamped as convenience stores, establishing the
format that remains Magnit’s core format today.
2005
Rapid growth results in 1,500 operational stores by the end of 2005.
1500
stores
Magnit dissolves its wholesale cosmetics and household cleaning
products operations to concentrate fully on retail development.
2005, retail stores
2006–2009
Progress
2006
The Company successfully completes its initial public offering (IPO)
on Russian stock exchanges.
2007
The compact city hypermarket is introduced as a new format.
Deloitte acknowledges Magnit as the fastest-growing retailer
globally.
2007, recognition as fastest-growing company
2008
Subsequent IPO on the London Stock Exchange provides capital for store
network expansion.
2009
Magnit pioneers direct import operations for high-demand
products among Russian retailers.
2010–2012
Multiformat
2010
The Company opens its first drogerie store, Magnit Cosmetics.
2011
The Company launches Green Line greenhouse complex
in the Krasnodar Territory to cultivate fresh vegetables and greens.
2011, Green Line greenhouse complex
2012
Magnit attains the status of Russia’s largest private employer.
The Company broadens its portfolio with the Magnit Family supermarket
format.
2013–2015
Leadership
2013
Magnit becomes the largest retailer by store count, selling space,
operational performance, and sales.
2014
Magnit’s capitalisation on the Moscow Stock Exchange exceeds RUB 1 tn.
Magnit Cosmetics secures its position as the largest drogerie chain
in Russia.
Magnit starts accepting bank cards and installs first
self-checkouts.
2014, self-checkouts
2015
The number of Magnit stores surpasses 10,000.
10000
stores
Development commences on the proprietary Krasnodar Industrial
Park.
2015, Krasnodar Industrial Park
2016–2018
Changes
2016
The Company launches a new format – Magnit Pharmacy.
2017
The first distribution centre beyond the Polar Circle opens
in Murmansk.
The Company begins growing champignon mushrooms at its own
mushroom complex in the Krasnodar Territory.
2017, mushroom complex in the Krasnodar Territory
2018
VTB Group acquires 29.1% of Magnit’s shares. Sergey Galitsky steps
down as the Company’s CEO.
Magnit Cosmetics becomes Russia’s largest retailer in cosmetics and
perfumery goods.
The Krasnodar Industrial Park welcomes its first resident –
Kuban Factory of Bakery Products.
2018, Kuban Factory of Bakery Products
2019
Expansion
2019
In its 25th anniversary year, the Company presents a new cross-format
brand for all Magnit stores.
The 20,000th Magnit convenience store and 5,000th Magnit Cosmetics
store open.
20000
stores
The Krasnodar Industrial Park welcomes Kuban Confectioner as its
second resident.
New formats – superstore and Magnit City – are piloted.
2019, Magnit City format
Magnit partners with the Russian Football Union and Russia national
football team.
Magnit launches its customer loyalty programme.
2020
Sustainability
2020
Magnit launches the #MagnitCare social programme and donates over
350,000 food kits.
The Sustainability Strategy is adopted.
Magnit opens its first My Price discounters.
2020, first discounters
E-commerce and e-pharma development begins.
Magnit joins the UN Global Compact – the world’s largest corporate
sustainability initiative.
The Green Office programme focused on environmental initiatives is
launched.
The first thematic superstores open.
2020, opening of superstores
2021
Advancement
2021
The Dixy retail chain is acquired and integration begins.
2021, purchase of the retail chain Dixy
Magnit launches the United for a Healthier Future initiative with
major FMCG companies, helping promote healthier lifestyles.
MSCI rating agency upgrades Magnit`s ESG rating to BBB leveI.
The Company opens first Magnit Go kiosks.
2021, kiosk format
Magnit obtains leasehold rights for Edelweiss stores in Kazan and
Radezh stores in Volgograd.
VTB Bank sells its stake in the Company to Marathon Group.
Magnit fulfils over 100,000 online orders in a single day.
100000
online orders in a single day
2022
Scale
2022
The first MCosmetic drogerie store opens in Uzbekistan.
2022, opening of a drogerie store in Uzbekistan
Magnit launches the convenience plus format, offering expanded product
range and larger store space.
The Company signs the National Inclusion Agreement and implements
several social projects, including the MLife pilot programme for adaptation of orphaned children.
Magnit’s first brewery opens in a Krasnodar superstore.
Fruits and vegetable deliveries through Far Eastern ports commence.
Magnit begins roasting and packaging coffee under its own brands at
its Tver facility.
2022, coffee production
Food sharing launches in Moscow and St Petersburg.
Stores open in airports and other transport hubs.
Magnit ranks among the leaders of an ESG ranking of Russian companies
by sustainable corporate governance.
A centre for growing oyster mushrooms, honey fungus,
and shiitake launches in the Krasnodar Territory.
2022, mushroom complex in the Krasnodar Territory
2023
Evolution
2023
Magnit launches a hard discounter format under the V1 or First Choice
brand.
2023, hard discounter format
The Company pilots Magnit Ultra-Convenience format – compact stores
located as close as possible to customers.
Magnit Delivery service integrates into Magnit’s mobile app.
A new Magnit and DIXY convenience store concept is introduced.
Magnit acquires KazanExpress marketplace.
Magnit becomes Russia’s first retailer with certified organic
production.
2023, organic production
2024
Horizons
2024
The Company initiates franchising for Magnit and DIXY core formats.
Magnit celebrates its 30th anniversary and expands to 30,000 stores.
30000
stores
The loyalty programme relaunches as Magnit Plus.
The Company develops its Magnit Market marketplace, increasing pick-up
points and expanding to new cities.
2024, marketplace development
Magnit completes the acquisition of a 33.01% stake in Samberi.
Magnit launches the AI.Lab artificial intelligence laboratory.
The Company develops its own Forecasting & Replenishment system.
2025
Future growth
2025
Moving to new heights.