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Artem Khachatryan is a Russian entrepreneur and co-founder of Fix Price, a discount retail chain. His source of wealth stems from his ventures in the retail sector. Khachatryan, born in 1975, has a career marked by establishing businesses and strategic leadership. In December 2023, he sold his entire stake in Fix Price. As of 2024, his net worth is estimated at $1.6 billion.
Artem Khachatryan was born in 1975. He graduated from Moscow State Mining University in 1997. His early career involved distribution of coffee.
In 2007, Khachatryan co-founded the Russian discount retailer Fix Price with Sergei Lomakin. The chain rapidly expanded, opening over 4,000 stores across several countries. In 2021, the company went public, and Khachatryan served as an executive director. His wealth increased significantly following the IPO.
Fix Price's success came from offering basic goods at low prices. The company's model included a focus on predictable, cheap prices, and a rotating selection of new items. This strategy resonated with consumers, leading to rapid expansion through franchising. Khachatryan sold his entire stake in December 2023.
Artem Khachatryan is involved in various social responsibility programmes through Galaxy Group of Companies, particularly in the fields of education, social development, and art in Armenia.
Co-founded Russian discount retailer Fix Price with Sergei Lomakin.
Fix Price went public.
Sold his entire stake in FixPrice and resigned from the board.
Galaxy Group of Companies allocated a significant part of the company's turnover for social responsibility programs in Armenia.
""They are the undisputed leader in the dollar-store segment." -Marat Ibragimov, Gazprombank analyst"
Artem Khachatryan was put on the wanted list in a criminal case in Armenia, along with his brother, related to alleged embezzlement and abuse of power.
A US Court seized a California mansion belonging to Artem and his brother, ruling that it was purchased with funds of criminal origin.
