Tatyana Volodina, the controlling owner of the Alkor and Co group, which includes the popular cosmetics and perfumery chains Letual and Podruzhka, has reached a fortune of $1.1 billion, according to Forbes. This significant milestone makes her the fifth woman billionaire from Russia, placing her in the global ranking of billionaires.
Volodina's business empire manages over 1,600 stores across the country, with Letual operating approximately 1,000 locations and Podruzhka boasting more than 600. The Alkor and Co group has been lucrative, distributing dividends totaling around 40 billion rubles to its owners since 2016, before taxes.
Her journey to becoming a billionaire began in the 2000s when she worked for the Russian division of the American cosmetic giant The Estée Lauder Companies. In that role, she was responsible for developing the Clinique brand within the Russian market. Following her tenure at Estée Lauder, Volodina moved on to lead the Russian branch of the Japanese cosmetics corporation Shiseido.
In 2011, she was appointed as the head of the own brands department at Letual and subsequently became the general director of Alkor and Co. Under her leadership, the company expanded its reach and influence in the retail sector. In 2024, she transitioned to the role of chairman of the strategic council of Letual, succeeding Dmitry Sosunov.
The Alkor and Co group is officially owned by the Cypriot company Letu Holdings Limited, with 100% of its shares belonging to GLT Invest & Trade Ltd. Volodina holds a significant stake, owning 59.2% of GLT Invest & Trade Ltd. The remaining shares are held by Alkor and Co and a small percentage is owned by top management.
Volodina's rise to billionaire status coincides with a notable increase in the number of billionaires in Russia. Forbes recently reported that the country welcomed 15 new billionaires, elevating Russia to fifth place globally in terms of new entrants to the billionaire club. Among these newcomers are Vikram Poonia, head of the pharmaceutical company Pharmsynthez, with a net worth of $2.1 billion, and Alexander Isaev, leading Elga Coal, valued at $1.3 billion.
In the context of women billionaires in Russia, Volodina joins a prestigious list that includes Elena Baturina, the former owner of the Inteko holding; Tatyana Kim (Bakalchuk), founder of Wildberries; Lyudmila Kogan, a major shareholder of UralSib bank; and Ekaterina Fedun, who inherited more than 1% of Lukoil shares from her father, Leonid Fedun.
Volodina’s educational background is impressive as well; she is trained as an economist-mathematician, having graduated from the Faculty of Economic Cybernetics at the Russian Economic Academy named after Plekhanov. She also has a background in linguistics.
The history of the Letual chain dates back to 1997, when the first store opened near the Ministry of Foreign Affairs in Moscow. The founder, Maxim Klimov, initially focused on trading perfumes, cosmetics, and pharmaceuticals in the 1990s. Reports suggest that Volodina became Klimov's third wife in 2011, and after his untimely death in 2013 at the age of 48, she took control of the company.
Since then, Volodina has been at the helm of Alkor and Co, overseeing its growth and expansion. From 2020 to 2022, the company further bolstered its market presence by acquiring 100% of Taber Trade, which manages the Podruzhka chain.
As she steps into her new role as chairman of the strategic council, Volodina's leadership is expected to continue shaping the future of Alkor and Co and its brands. Her achievements not only highlight her business acumen but also represent a growing trend of female entrepreneurship in Russia.
With her inclusion in the Forbes list of billionaires, Tatyana Volodina serves as an inspiration for aspiring entrepreneurs, particularly women in the business sector. Her story underscores the potential for success in the competitive landscape of retail and cosmetics.
As Volodina continues to navigate the complexities of the retail market, her journey will be closely watched, reflecting both the challenges and opportunities that lie ahead for women in business.
