OSJC Magnit (Russian ОАО Магнит ) is a Russian retail group, based in Krasnodar. According to the company, the company has approximately 150,000 employees and operates more than 5,500 supermarkets, 100 hypermarkets and nearly 500 drug stores to a total of over 1,500 locations in Russia. The company is publicly traded and listed on the RTS index at the Russian Trading System.
The company was originally founded in 1994 under the name of Sergei Galitsky Tander as a wholesale market in the southern Russian city of Krasnodar. Among the products that are sold Magnit, initially belonged to cosmetics, perfume and houseware products.
Finally, it was decided to expand into the retail market. 1998, therefore, the first supermarket opened Galitsky under the name of " Magnit ".
Since then, the company expanded massively. By the end of 2005 over 1,500 supermarkets operating Magnit throughout Russia. Soon after, work began on the construction of large hypermarkets. Since 2010, it also under the name of " Magnit cosmetics " drugstores began to open. Today Magnit is not only one of the largest retail chains of Russia, but also one of the largest Russian companies.
Although Magnit is listed on the stock exchange, keeps company founder Galitsky still eta 46% of the shares. Magnit has so far mainly in the European part of Russia active.