Russian retail chain Fix Price, known for its fixed-price model, is set to enter the Serbian market, with plans to open several stores by the end of 2025. This marks the company’s second attempt at expanding into Europe, as it currently operates 44 stores in Latvia.
The discount retail format introduced by Fix Price has gained popularity in Serbia, though the market is already dominated by international retail giants such as Germany’s Lidl, Slovenia’s Mercator, and the Netherlands’ Delhaize. Despite strong competition, Serbia’s retail sector has proven to be one of the most profitable in the economy, with high inflation contributing to rising incomes, making the market attractive to new retailers.
Job postings on the HH.ru website indicate that Fix Price is already looking to recruit for its Serbian operations, including positions for an HR expert to help establish a team, as well as a chief accountant and senior lawyer. The retail chain is expected to open stores in various locations across Serbia by the second half of 2025, alongside launching its online sales platform.
Fix Price confirmed its plans to enter the Serbian market but did not disclose further specifics. The company stated that the market conditions and consumer demand in Serbia align with its business model.
Founded in 2007, Fix Price is owned by JSC “Fix Price,” which is managed by Kazakhstan’s Fix Price plc. The chain reported a 7.9 percent increase in revenue for 2024, reaching 314.9 billion rubles ($3.8 billion), with a 7 percent rise in net profit to 22.2 billion rubles.
Currently, Fix Price operates in several countries, including Kazakhstan, Belarus, Latvia, Uzbekistan, Georgia, Kyrgyzstan, Armenia, Mongolia and the United Arab Emirates.
The growth of Russian investments in Serbia has surged since 2022, with over 2,000 companies founded by Russian entities now registered in the country, compared to just 80 in 2021. This trend has intensified following the conflict between Russia and Ukraine.
