How a fur farm turned into Siberia's $1.4B grocery empire under Alexander Rakshin

Alexander Rakshin, co-owner of the Maria-Ra retail chain, has built a business empire spanning groceries, farming, and baking. His family's fortune now stands at $1.4 billion, according to Forbes. The journey began over three decades ago with a fur farm and a single shop named after his mother.

In 1990, Rakshin started his career by launching a fur farm near Altaiskoye with two partners. The business focused on breeding foxes and mink for hats. However, a later dispute split the farm, leaving him with a small shop called Maria-Ra.

By 1998, that single store had expanded into a chain of 15 outlets. Today, Maria-Ra is Siberia's largest grocery retailer, operating over 1,300 stores across five regions. Its 2024 revenue reached $1.3 billion, cementing its dominance in the market.

Beyond retail, the Rakshin family owns Russky Ovoshch, a vegetable farming operation in Altai Krai. The business specialises in potatoes, carrots, and beets. They also control Altaikhleb, one of Russia's top 20 bread and confectionery producers.

Rakshin holds a 25% stake in Roznitsa, the company managing the Maria-Ra supermarket network. Recently, the family acquired a Moscow business centre for 1.5 billion rubles, further expanding their assets.

The Rakshin family's businesses now cover food retail, agriculture, and baking. With a net worth of $1.4 billion, their growth from a small fur farm to a diversified empire reflects decades of expansion. Maria-Ra remains their flagship, serving millions across Siberia with no reported presence in Moscow's market since 2024.