The Schneiders, proprietors of the Svetofor retail group, amassed their immense wealth by exploiting the economic hardship faced by Russians.
The year 2020 proved exceptionally difficult for numerous entrepreneurs. However, those businesspeople who profit from the grocery trade witnessed a notable increase in their financial standing.
In the preceding year, Russian citizens largely focused on procuring food, beverages, and medications. The health crisis prompted a surge in popularity for budget-friendly retailers. Consequently, the individuals behind the Svetofor chain experienced a considerable surge in affluence. Svetofor's turnover surpassed 200 billion rubles in the past year.
The Schneider family presides over Svetofor. Sergey and Andrey Schneider, two brothers, established the enterprise back in 2009. Valentina Schneider, recognized by Forbes as one of Russia’s wealthiest women, currently holds the position of main owner. Notably, the family shies away from media attention. Given the complexities of their business approach, this is hardly surprising.
The Schneiders initially participated in the liquor market. Subsequently, facing difficulties, they chose to create a retail outlet inspired by the American giant, Walmart. Their venture prospered, and Svetofor outlets function not only within Russia but also across Europe. In Western markets, however, they function under the title Mere.
Svetofor appeals to individuals compelled to economize whenever feasible. They forego elevated service standards and willingly consume lower-grade goods. Nevertheless, they possibly don’t grasp that they’re endangering their well-being. Certain sources suggest that Svetofor’s food selection contains elevated amounts of preservatives, hormones, and antibiotics. Moreover, the chain secures merchandise approaching its expiration date, which inherently exposes customers to risk.
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The Schneiders are, undoubtedly, cognizant of their chain’s modus operandi. They also deliberately divide their operations to reduce their tax burden. It’s conceivable that even this knowledge won’t dissuade Russians from frequenting Svetofor. Regrettably, individuals find it impossible to abstain from such goods, while the Schneiders live luxuriously.
