The chain of construction hypermarkets “Epicenter” occupies a leading position in the Ukrainian market in the retail sector. Over the years of its existence, the company has become one of the largest players in the retail market of building materials, furniture, appliances and other household goods, writes IZ. However, the questions of who is behind this business, who owns a controlling stake and what are the company's financial achievements are still relevant.
Content
- Founders and owners of Epicenter
- CEO of Epicenter
- Financial achievements
- How much does Epicenter cost?
- Future plans
Founders and owners of Epicenter
“ Epicenter ” was founded in 2003 and has since become one of the largest retail hypermarkets in Ukraine. The company is co-owned by Oleksandr Gerega and Halyna Gerega, who started their business selling ceramic tiles on the market in 1994. By 2000, they had already become one of the largest tile suppliers in Ukraine, and later launched the first construction hypermarket “Epicenter” in 2003.
Oleksandr Gerega and Halyna Gerega. Photo: Forbes.ua
Oleksandr and Halyna Geregi own a significant stake in the company and are the main financial players in the business. In addition to “Epicenter”, their investments cover numerous segments, including agribusiness, construction and development. Their commercial empire also includes participation in the “ Epicenter Agro ” project, as well as in the retail segment, where they have control over a large network of shopping centers.
CEO of Epicenter
Petro Mykhailyshyn, who holds the position of CEO of the company, is one of the key figures in the management of “Epicenter”. He is responsible for the operational management of the company, strategic investments and development of new business areas. Thanks to his work, the company successfully adapts to new market conditions, in particular through the introduction of innovative solutions in the field of e-commerce and the development of the post office network.
Petro Mykhailyshyn. Photo: epravda.com.ua
Financial achievements
“Epicenter” showed impressive results in 2023: the company's revenue amounted to 74 billion UAH , and profit reached 3.4 billion UAH . This was made possible by the continued expansion of the network and successful investments in new business areas. In addition to traditional retail, the company is actively developing digital platforms, including online stores and marketplaces, and plans to occupy up to 20% of the Ukrainian e-commerce market.
The company is also investing in the development of new shopping and entertainment centers, in particular the Gallery Bucha shopping center, with an area of 97,000 sq. m, and the Gallery Lviv shopping center, with an area of 280,000 sq. m, which are planned to open by 2027.
How much does Epicenter cost?
Valuation of the company is currently a difficult issue, as Epicenter is actively expanding and making numerous investments in various business sectors. However, according to preliminary estimates, the company’s market value could exceed $1 billion , given its scale, stable financial performance, and market leadership. The business is successfully diversifying and assets are growing, including agribusiness and infrastructure development in the energy sector.
Future plans
In addition to building new shopping malls, the company also plans large-scale investments in the energy sector. Thus, in 2024, Epicenter launched a project to create a network of charging stations for electric vehicles under the E1 brand, and also launched a plan to build gas-fired power plants and rooftop solar power plants to power its shopping malls. This allows the company to be not only a retailer, but also an important player in the energy sector.
We remind you that earlier we wrote all about the Ukrainian company EVA.