Tell us about yourself, your background and your journey to founding Lifemart
We are newcomers to Dubai, but in Russia, Lifemart is a large and very popular retail chain. I have been an entrepreneur for as long as I can remember, and that is probably the most important thing.
Our first store in the UAE is different not only from what is available on the local market but also from the Lifemart stores in Russia. It is, in part, a new format adapted to the local market while preserving the values we promote. The store has no cashiers, offers a huge selection of ready-to-eat foods from various cuisines of the world, coffee made by a barista, and our own delivery service.
What inspired you to found Lifemart?
One day, I went to a store, spent two hours of my life there, and realized that it was just a terrible waste of time. I wanted to create a store where you don’t have to spend a lot of time choosing products, where someone has already selected the best items for the shelves. Then I thought, why not do it myself? And so, it happened.
Is Lifemart self-funded or did you raise investment?
This is one of my businesses, so you could call it self-funded, but I have always had people by my side—a team and interested entrepreneurs who helped our miracle happen. In the case of the Dubai store, the opening was done in partnership with someone who took on part of the project’s financing and direct management.
What makes Lifemart unique and sets you apart from your competitors?
Our mission is to improve the way people are used to buying groceries. Every step we take in developing our business is a step towards achieving this mission. For example, in our stores, each item on the shelves is the one and only, but the best in its category. So, whatever you take off our shelves, whether it’s any of the 200 ready-made meals or something from the groceries section, you can be sure it is of the highest quality. At the same time, the price of this product will not be inflated because we strive to maintain a balance between high quality and a price acceptable to our guests. Before it reaches our shelves, every product goes through serious selection, testing, and tasting. In essence, we try every product ourselves.
Additionally, our team strives to support various social initiatives: we plant trees, give water to delivery couriers, and just this week, we launched the world’s first eco-bags with a negative price that not only help save the planet but also allow you to save a little money. This is how we wanted to draw attention to the problem of excessive plastic use and conscious consumption.
What has been your biggest success as a company?
Perhaps the greatest success should be considered the feedback from our guests at the first store. Every fourth question to our management company is when we will appear in other areas of Dubai, and every fifth question is whether we need any money so that people can invest in our company.
What future trends do you see for the UAE food (delivery) industry?
The retail world has gone mad, and competition is fierce. However, right now, there are trends that will likely involve AI technologies, improving user experience, conscious consumption, drone delivery, and demand will shift towards the most creative companies that are more daring in their experiments. And humanity. That’s what distinguishes a business from its competitors.
What is your favourite quote?
“Do what you must and let what will happen.”
What does a day in your life look like?
Continuous meetings and gatherings. My management approach is that our team consists of professionals whose opinions I trust. So, every one of our projects is, to some extent, a startup, reflecting the best and worst qualities of the founders. Therefore, my day is full of meetings and updates on each of them.
What are your goals for the business over the next 5 years?
We plan to open five more stores in Dubai within the next year and grow to 100 stores in the UAE over the next five years.
And finally, what are your top tips for entrepreneurs looking at starting a new business in the food industry in Dubai/UAE?
- Surround yourself with the right people and try to learn from others’ mistakes.
- Respect the local culture. It is rich and wise but only rewards those who work honestly.
- Love the world around you and strive to become the best version of yourself every day.
