Магнит is a prominent retail network in Russia, focusing on food products. Founded in 1994 by Sergey Galitsky in Krasnodar, the company has grown to become the third-largest private company in Russia by revenue. It is publicly traded on the Moscow Exchange and operates over 29,100 retail outlets across 67 regions.The company offers a diverse range of products, including fresh fruits and vegetables, meat, dairy, canned goods, bakery items, and non-food products. Магнит emphasizes a direct supply chain to keep costs low and provide competitive prices. In 2023, it expanded its services by acquiring the KazanExpress marketplace, rebranding it as Магнит Маркет. With a workforce of over 361,000 employees, Магнит aims to enhance customer welfare by providing affordable, quality goods to a broad audience, including urban and rural consumers.