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Denis Shtengelov Became a Dollar Billionaire
November 2, 2017 17:08


Ranks of Russian dollar billionaires have been enlarged by Denis Shtengelov, owner of KDV Group, which produces Beerka beer snacks, Kiriyeshki crackers, Chipsons chips, etc.

The edition estimated the state of the entrepreneur in the amount of more than a billion US dollars. It is noted that since 2013 the holding has managed to increase sales more than twice, to 95 billion rubles (1.6 billion US dollars) per year. To challenge major players in the market, such as Frito-Lay and Mondelez International, the company of Shtengelov succeeded against the background of the crisis provoked by a collapse in oil prices, the introduction of sanctions by the US and the EU.

According to the publication, KDV Group won by the wide spread of snacks amid economic recession and inflation. Moreover, due to the strong weakening of the ruble, imported food, including cocoa, has become very expensive.

As a result, Russians switched to confectionery products from domestic flour. At the same time, the company of Shtengelov was able to keep prices for products by almost a quarter lower than those of competitors, according to Nielsen Russia. This was achieved thanks to the fact that KDV Group has assets throughout the entire production chain - from farms to chocolate factories. 



Author: Anna Dorozhkina


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