Early Life and Education
Kiril Petrov Domuschiev was born on April 18, 1969, in Sofia, Bulgaria. He completed his secondary education at the 9th French Secondary Language School Alphonse de Lamartine. Domuschiev holds a master's degree in Industrial Management and Marketing from the Technical University, Sofia.
Rise to Success
After the political changes in 1990, Domuschiev, along with his brother Georgi, established several companies in the manufacturing and trading of products such as clothing and footwear. In 1996, he established the privatization fund Napredak Holding AD, through which he acquired shares in various Bulgarian companies across different industrial sectors. In 1999, he launched his pharmaceutical business, Huvepharma EOOD, which later became a global company focused on human and veterinary medicine products.
Key Business Strategies
Domuschiev's strategic approach includes diversification and vertical integration. Through Advance Properties, he has invested in animal health (Huvepharma), shipping (Navigation Maritime Bulgare), port management (BMF Port Burgas), and media (Nova Broadcasting Group, which he later sold). His focus on the livestock health sector, and the development of new products, have driven Huvepharma's growth. He also expanded Huvepharma's operations with manufacturing plants in the United States and Europe.
Philanthropy
Kiril Domuschiev is known for his philanthropic efforts. In 2011, he and his wife, Kremena Domuschieva, established the Kremena and Kiril Domuschiev Foundation, which supports children's hospitals, specialist institutions, and other charitable activities. In late September 2022, Domuschiev announced that he and his brother, Georgi Domuschiev, would invest $5 million through their fund Domuschiev Impact in the creation of a Global Center for the fight against malaria.
