Food, Fashion, DIY. Who Are Foreign Investors In Belarus Retail

In late November Polish clothing retailer, CDRL announced the intention to purchase 90% of the shares of Buslik, the major children’s goods chain in Belarus. The deal was estimated at $6.39 million.

Plus one foreign investor in Belarus retail.

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The small size of the market and its over-regulation by the state have been scaring potential foreign investors off this segment of the Belarusian economy. Several projects were sold to local companies.

After the purchase, CDRL will become just one of the 12 major foreign capitals that directly invest in retail chains in Belarus.


Sosedi (Lithuania)

Lithuanians were the first to invest in Belarusian retail. In 2001, three Lithuanian businessmen who had previously distributed goods of world brands opened the first Sosedi supermarket together with partners from Belarus.

Since then, Sosedi has developed into one of the largest supermarket chains in Belarus and continues to evolve. The chain recently acquired Preston shops and Zahodni shop.

Almi, Spar (Russia)

Almi is the first and currently the only project with Russian capital in the Belarusian food retail.

Almi has local roots – its creator, ex-shareholder at Russian food retailers Dixy and Victoria Alexander Zaribko was born in Pinsk. He bought the first shop in Minsk in 2005 and started creating the chain on its basis the next year.

In 2017 Zaribko brought the Spar franchise to Belarus.

Мart Inn (Lithuania)

The brand debuted in Belarus retail in 2012. It was backed by the stakeholders of the Lithuanian food retailer Maxima.

Several years later they invited another Lithuanian businessman, the owner of the Lithuanian retail chain Norfa Dainius Dundulis, to join them to help solve the problems with the development of business in Belarus.

Read also: Belarus gets $1.4 bln foreign investment. What it needs to get more


LC Waikiki (Turkey)

The opening of the stores of one of the largest Turkish clothing brands in 2013 was a big event for the Belarusian market.

LC Waikiki chain in Belarus is developed through the subsidiary LC Waikiki Retail Bel.

Kari (Russia)

Belarus retail has been getting investment from the Russian businessman and former co-owner of Eldorado, the largest home appliance and electronics retailer in Russia, Igor Yakovlev since 2013.

Yakovlev is creating the chains of shoe shops and children’s goods stores under Kari brand in the countries of ex-USSR.

Inditex (Spain)

The arrival of Inditex was a long-awaited event.

Inditex brands Zara, Zara Home, Pull and Bear, Stradivarius, Oysho, Bershka, and Massimo Dutti have shops in several malls in Minsk. New shops are planned in other cities as well.

Home & decor

OMA (Finland, Lithuania)

Finnish group Kesko, a global retail giant, entered the Belarusian segment of DIY in 2007. A joint venture Kesko Senukai, created in collaboration with Lithuanians, acquired a controlling stake from six co-owners of the Belarusian chain.

Currently, Kesko Senukai owns a 100% stake in OMA, which is the leader in this segment of Belarusian retail.

JYSK (Denmark)

JYSK opened its first store in Minsk in 2016. The Danish retail chain selling household goods such as furniture and interior decor belongs to billionaire Lars Larsen.

The Danish brand plans to open 25 JYSK shops across Belarus.


Euroset (Russia)

Russia’s largest mobile phone retailer appeared in Belarus in 2005. At its peak, the brand operated about 80 shops in Belarus.

During the 2010s the parent company changed owners several times. In 2018 it was announced that Euroset shops in Belarus would be united under the Svyaznoy brand.

Read also: European Investment Bank comes to Belarus, ready to invest €200m per year

Svyaznoy (Russia)

Russia’s second-largest independent handset retailer, Svyaznoy followed its rival to Belarus market in 2007. It acquired several local stores and became one of the biggest players on the market,

Svyaznoy and Euroset have been merging their businesses since 2018.


Mila (Germany, Russia)

Mila chain has been developed since 2007 by the distributors of products by Henkel Group. Mila is also the first chain of drogerie stores in Belarus.

The main owners the brand have German and Russian citizenship.

Children’s goods

Buslik (Poland)

Buslik was set up in 2006 by a Belarusian businessman in collaboration with partners from Russia. In 2009 the partners attracted investment from the European Bank for Reconstruction and Development. This was the first time the EBRD took a stake in Belarus retail sector.

The news about that the co-owners of Buslik were selling 90% of the stake to the Polish retailer CDRL was announced in November 2018.

Original article in Russian by Zavtra tvoyey strany (via TUT.BY).