Image: Public domain | via Wikimedia Commons
Nikolay Fartushnyak, at 59 years old, is a self-made retail entrepreneur. He is a co-founder of Sportmaster, Russia's largest sports and fashion retailer, and co-founded the fast-fashion retailer Ostin. His source of wealth is retail. Fartushnyak's career began in the early 1990s distributing French consumer goods before co-founding Sportmaster and Ostin. As of 2024, his estimated net worth is $1.5 billion.
Nikolay Fartushnyak was born in Krivoy Rog, Ukraine, and later lived in Russia. He studied engineering at the Moscow Institute of Physics and Technology. Fartushnyak, along with his brother Vladimir, co-founded Sportmaster, which is one of the largest sports and fashion retailers in Russia.
In the 1990s, Nikolay and Vladimir Fartushnyak noticed the growing interest in fitness and a healthy lifestyle. They started by selling exercise machines of the German brand Kettler. Realizing the potential, they expanded into a full-fledged sports center with the creation of Sportmaster in 1997. The brothers have been focused on dynamic development in the sports goods markets in Asia and Europe.
The Fartushnyak brothers created a multi-brand store that caters to different target audiences. Fartushnyak also introduced several new brands to the market, including Funday and Demix. They are focused on innovation, creating a convenient shopping experience for customers, and continuously improving service.
While specific figures are difficult to ascertain, sources indicate Fartushnyak is involved in philanthropy, particularly in funding education and healthcare projects in Russia.
Co-founded Iliion, which sold exercise machines of the German brand Kettler.
Co-founded the first retail store, Sportmaster.
Started a distribution business supplying French consumer goods to the Russian market.
Bought Swedish company Agrokultura, which owns agricultural land in Russia.
Supported education and healthcare initiatives in Russia.
