German hypermarket chain Globus keeps expanding in Russia while other foreign firms face temporary management

German hypermarket chain Globus is still operating in Russia and continues to expand there, even as Russian authorities place foreign companies' assets under temporary management. According to Meduza, the chain's main owner, German billionaire Thomas Bruch, has meanwhile urged Berlin to talk to Moscow and has attended a Kremlin-organized forum.

Other companies under temporary management

On November 5, Vladimir Putin placed the Russian business of tobacco producer JTI under temporary management. Kommersant reports that the Russian subsidiary of Coca-Cola's Swiss entity could be next. Temporary management formally leaves ownership unchanged, but in practice owners usually soon agree to give up assets on unfavorable terms. Of roughly 20 companies affected, only Ariston has regained operational control. Auchan and Leroy Merlin were hit in September, and a few weeks later German retailer Metro followed; it later donated 1 billion rubles for equipment for soldiers at the front.

Globus's approach

Globus has operated in Russia since 2006. By the Kyiv School of Economics' Leave Russia project's calculations, it ranks second by revenue among German companies still there, behind Metro. Bruch, whose net worth Forbes puts at $1.6 billion, has previously blamed the West for the conflict over Crimea and eastern Ukraine. In 2022 he said that leaving Russia would probably lead to forced nationalization.

The Russian company Hyperglobus, which runs 21 hypermarkets, has operated separately from the European business since January 1, 2025, although the shareholders are the same. From 2021 to 2025, its revenue rose from 119.6 billion to 165.6 billion rubles, and net profit from 4.2 billion to 7.4 billion. In late September it announced a 24,000-square-meter hypermarket in Zelenograd, costing 4 billion rubles.

According to the SPARK database, the company has also taken part in tenders by a catering company belonging to the presidential administration, and German broadcaster ARD found that its Balashikha hypermarket funds an organization collecting aid for soldiers.