Exterior of an Okei store. Photo from European Supermarket Magazine

Okei: Russian Hypermarket Chain

Published: January 5, 2019

Okei is a well-known Russian retailer focused on larger stores. It operates across the country, with 110 stores in major Russian cities such as Moscow, St. Petersburg, and Volgograd.

Compared to many other Russian chains, Okei only came into existence recently. It was founded as a hypermarket in St. Petersburg in 2002. Although its operations are focused in Russia, it is headquartered in the small European nation of Luxembourg and traded on the London stock exchange under “OKEY.” About 23,000 people work at Okei.

The firm is the seventh largest of its kind in Russia. In the first half of 2016, its revenues totaled $1.2 billion. It is particularly strong in St. Petersburg and the surrounding area.

Okei has struggled recently with increased competition. It sold its supermarket line to competitor X5 in order to focus on its larger hypermarket business. It has also been hit hard as the disposable incomes of Russian consumers shrink.

Overall, Okei has a decent position in the Russian market, but has not been a top performer.

Okei TV commercial featuring Russian comic Dmitriy Brekotkin.

About the author

Greg Tracey

Greg Tracey is a junior at the University of Nebraska – Lincoln. He is studying economics and international relations, as well as minoring in mathematics and Russian. As a Home and Abroad Scholar, he is focusing on business and economic issues in Russia and surrounding countries. The related scholarship will help fund his participation in SRAS's Russian as a Second Language program at St. Petersburg State University of Economics during the Spring 2019 Semester. In his free time, he enjoys reading and soccer.

Program attended: Home and Abroad Scholar

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