Vladimir Fartushnyak

CEO, Sportmaster

Real-Time Net Worth

$1.9B

As of December 2025

Age

Source

retail

Industry

fashion-retail

Citizenship

Biography

Vladimir Fartushnyak, a Russian billionaire, is a prominent figure in the retail industry, primarily known for co-founding Sportmaster, the largest sports and fashion retailer in Russia, along with Ostin and Zolla fast-fashion chains. His wealth stems from his ventures in retail, which began in the early 1990s with a distribution company. Fartushnyak's career has been marked by strategic business decisions, including the establishment of multi-brand stores and strong supplier relationships. As of 2025, he is ranked #1850 on the Forbes Billionaires list. He is married and has two children. Despite his success, Fartushnyak has faced scrutiny regarding his business practices and potential political connections.

Wealth Over Time

Portfolio Holdings

In-Depth Profile

Early Life and Business Beginnings

Vladimir Fartushnyak's entrepreneurial journey began in the early 1990s during the economic transition in Russia. Initially, he and his brother, Nikolay, started a distribution company that supplied French consumer goods to the Russian market. This venture provided a foundation for their future endeavors.

Rise to Success

The Fartushnyak brothers, along with Alexander Mikhalskiy, co-founded Sportmaster in 1992, which would become Russia's largest sports and fashion retailer. They secured the exclusive distribution rights for Kettler exercise equipment, which led to the opening of the first Sportmaster store in 1995. The company adopted a multi-brand retail strategy, offering various sports brands under one roof. Alongside Sportmaster, they co-founded Ostin and Zolla, expanding their presence in the fast-fashion market.

Key Business Strategies

A key element of the Fartushnyaks' success was their focus on offering a wide variety of products and maintaining strong relationships with suppliers, ensuring a consistent supply of goods. They strategically adapted to changing market conditions and introduced new brands to cater to different customer segments.

Philanthropy

Information on Fartushnyak's specific philanthropic initiatives is limited. However, it is known that he is recognized for his contributions, particularly in education and healthcare.

Career Milestones

1992

Co-founded Sportmaster

Co-founded Sportmaster, Russia's largest sports and fashion retailer.

1993

Founded Ilyon

Founded Ilyon to import and sell goods on the domestic market.

1995

Opened first Sportmaster store

Opened the first Sportmaster retail store.

2000s

Co-founded Ostin and Zolla

Co-founded Ostin and Zolla fast-fashion chains.

Philanthropy & Social Impact

Education and Healthcare

Undisclosed

Funding projects to improve access to education and healthcare.

Controversies & Challenges

Ongoing

Allegations of Exploitative Business Practices

Accusations of prioritizing profit over ethical sourcing and labor standards within his retail ventures.

Ongoing

Opaque Financial Dealings

Concerns regarding the lack of transparency in his business dealings, raising suspicions of shady financial maneuvers.