Gennadiy Butkevych: Ukrainian-Style Success Story
Gennadiy Butkevych is a businessman who earned his millions on sale of goods at low prices. He jointly with his partners Viktor Karachun and Yevhen Yermakov is owner of a large corporation called “ATB”. As of today, this chain of discount stores is one of top five retail chains of Ukraine. What is the secret of his success?
Gennadiy Butkevych was born in late May 1958. He joined the Dnipropetrovsk-based company “Agrotechbusiness” (abbreviation ATB) after ex-banker, mayor of Dneprodzerzhinsk Yaroslav Korchevskiy left it.The story of “ATB” company began in 1993. Then, the young Ukrainian state had neither discount stores, nor supermarkets, nor hypermarkets. There were only “Soviet-era” grocery stores. Starting March 2001, “ATB” grocery stores were gradually reorganised into discount stores, and a single corporate look was developed for all stores of the chain. “ATB” chain postures itself as a serious player in the retail market.
Significant management reshuffles occurred in the company in mid-2000s. Resident of Dnipropetrovsk Serhiy Tarasiuk and his fellow townsman Yevhen Yermakov as well as Kyiver Yaroslav Korchevskiy stood at the origins of “ATB” corporation in mid-90s. However, its founding members have changed ten years later. Viktor Karachun instead of Tarasiuk became a co-owner of the corporation that managed one of the largest chain of supermarkets in the country. Gennadiy Butkevych took the place of Korchevskiy.
Up to date, Gennadiy Butkevych, Yevhen Yermakov and Viktor Karachun are equal-share “ATB” co-owners.
When the new owners came, the company began working up the Ukrainian market more actively. By December 2003, already 85 stores operated in 12 cities and towns of Ukraine. In late 2006, “ATB” chain consisted of 163 stores in 38 cities and towns of Ukraine. Years 2007-2008 saw opening of 127 new “ATB” stores. Over the last 3 years, the enterprise has been demonstrating the highest growth rates.
As of today, “ATB” food retail chain includes more than 485 stores in 135 cities and towns of Ukraine. 90% of “ATB-market” shopping capacities (over 100 thousand square metres) belong to the company, while the chain is developed owing to reinvestment of the obtained profits as well as raising of loan funds, besides, the share of the company’s own funds amounts to 80%, loan funds — 20%. Company “ATB-market” employs over 21 thousand persons. Daily, over 1 million of Ukrainians go shopping to “ATB”.
“ATB” corporation carries out its activities in the following spheres of business: assets management, retail, foodstuff production and sale, provision of services in the sphere of sports and leisure.
In addition to the retail store chain, “ATB” corporation includes “Kviten” confectionery plant, meat plant “Favorit Plus”, “Voskhod” sports club and “Retail Development”—a division of the corporation that acts as a customer for projects on building and reconstruction of the company commercial properties.
Gennadiy Butkevych established a sports club for youth. In 1998, he established the amateur tennis tournament “Dnepr Open”. Initially, the tournament had been carried out at tennis courts of “Voskhod” sports club in late May and was timed to Gennadiy Butkevych’s birthday.
According to Ukrainian publication “Focus”, the fortune of Gennadiy Butkevych amounted to $152 million in 2017, and he took the 43rd place in the rating of richest Ukrainians.