Tinkov on education and MBA
Oleg Tinkov has an original business model. Create a business, promote it, capture a significant market share, and then SELL IT. Tinkov has created a wide variety of businesses, none of them identical. Yet, the strategy is very similar. How does he do it? Tinkov chose a sector where there is growth, and, obviously, this growth is in its early stages. He launched food products at the right time. Beer – riding the wave of rising consumption.
Yes, Tinkov's true business model is not simply a business for shareholder profit, but to promote and sell. This strategy has become standard for Oleg.
In this episode of Polymer Business, we'll look at some of Oleg Tinkov's facts and secrets: Tinkov Bank, how Tinkov worked as a shuttle trader. The history of the Tekhnoshok chain of stores and Daria pelmeni. Oleg Tinkov's story and his understanding of the appearance of success and his personal brand. The history of Tinkov beer, the history of Tinkov restaurants, and Oleg Tinkov's YouTube channel "Business Secrets." The history of Tinkoff Bank, the IPO, the deal with Yandex, the sale of a stake to Potanin. And also a comparison of Oleg Tinkov with Russian oligarchs: Potanin, Fridman, Alekperov.
Tinkov was born in Siberia in 1967. His biography can easily be found on Wikipedia. Interestingly, he is no longer a Russian entrepreneur, but a Cypriot one. Next.
All the businesses he created were actually created to be sold later. This is his true business strategy.
Beginning of his career: he worked as a shuttle trader. Caviar, jeans, vodka, and cosmetics. He began importing electronics from Asia. Then he opened a Sony store. This is how the consumer electronics chain "Tekhnoshok" began. The entire chain was sold to various shareholders in several stages. Then Oleg Tinkov began producing "Daria" pelmeni.
In 1998, the first Tinkoff beer restaurant opened on Kazanskaya Street in St. Petersburg. It was a posh establishment for its time, top-tier. As a student, I was lucky to get a concert there (and there were often concerts). Everything followed the same pattern: Tinkoff caught the market trend; income levels in Russia were rising, and the beer market was experiencing double-digit growth. The combination proved successful: simple beer, affordable food, comfortable seating, and, most importantly, a strong brand.
In 2003, the first Tinkoff brewery was built, and in 2005, a second. Then, following the same pattern, in mid-2005, the entire beer business was sold to the Belgian conglomerate InBev.
In 2011, Tinkoff launched the YouTube channel "Business Secrets," which has featured over 100 interviews with various Russian entrepreneurs. Oleg's constant interruptions and insistence that he was first has landed him in many a joke. However, it must be acknowledged that he has successfully built his own unique brand. Tinkov is unlike any other.
Tinkov's main business is his bank.
In 2011, Oleg Tinkov began recording interviews with the Russian business elite. His guests were a diverse bunch: Chichvarkin, Prokhorov, entrepreneur and Mayor Luzhkov's wife Elena Baturina, Ruben Vardanyan, Polonsky, Belotserkovskaya, and even Valentina Matviyenko's sober son. A significant portion of the Forbes list and some party-goers like Artemy Troitsky, Ksenia Sobchak, and Timati were featured. In total, more than 100 interviews were published.
Tinkov is Russia's most public entrepreneur. There's no doubt that back in the late 1990s, he realized that publicity boosts his capitalization. Since then, Oleg has happily seized on any opportunity to remind people of his status. He enjoys outrageousness; he can talk about market shares, sex, gangsters, and bicycles with equal passion. Tinkov is also known for his impressive performances on international stages.