Magnit

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PJSC Magnit
Native name
ПAO «Магнит»
Public (PAO)
Traded as MCXMGNT
LSEMGNT
Industry Retail
Founded 1994
Founder Sergei Galitsky
Headquarters Russia, Krasnodar
Key people
Dmitry Igorevich (Chairman)
Sergei Galitsky (CEO)
Products Consumer goods
Revenue Increase US$14.4 billion (2012)
Profit Increase US$807.2 million (2012)
Number of employees
260,000
Website www.magnit-info.ru

Tander, doing business as Magnit (Магнит, "Magnet"), is Russia's largest retailer.[1] It was founded in 1994 in Krasnodar by Sergey Galitsky.

As of July 2013, the company had 7,416[2] stores in 1,389 locations. They include 6,209 convenience stores, 132 hypermarkets, 713 Magnit Cosmetics store and 21 Magnit family stores. The company employs more than 140,000 people and has been opening several dozen stores each month.

Since 2006, the company has developed a chain of “Magnit” hypermarkets in many Russian cities and towns. It overtook its rival X5 Retail as Russia's largest retailer in terms of sales in April 2013, although it is still under-represented in Moscow.[3] As of July 2014, it is the world's fourth largest retailer by market capitalization.[4]

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