Public Joint Stock Company Magnit, together with its subsidiaries, engages in the retail and distribution of consumer goods under the Magnit and DIXY names. It operates retail business through convenience stores, cosmetic stores, supermarkets, drogerie stores, pharmacies, and others. The company also engages in the software product development, marketing, food retail and wholesale, IT, and other activities, as well as agriculture and household chemical production business. The company was founded in 1994 and is headquartered in Krasnodar, Russia.