The company owns the "boutique street" in Tretyakov Proyezd in the center of Moscow, the fashionable Barvikha Luxury Village and the TsUM department store, which sells more than 1,000 brands, including Tom Ford, Bottega Veneta, Dolce & Gabbana, Saint Lauren, Bentley, Bulgari and Patek Philippe. The art world is delusional if it feels it can escape it.. We want to hear from you! Phillips has said it doesnt expect sanctions to affect its business. Soon the brand closed and Volkova moved to Paris, where she started working as a stylist. In Russia she has been the face of various brands, from Rado to Carrera y Carrera. Mercury's growth parallels the development of post-Communist Moscow, from its big bang of glitz-and-glam new money to the more normal if fragile existing economy. It is small, centrally located in Moscow and sells the Maison Margiela and Nina Donis brands, along with designer souvenirs, art books and other things. Previously, Leonid was the Board of Trustees Mem ber at The State Hermitage Museum. On his 50th birthday Leonid Friedland and Leonid Strunin presented their friend Igor a 250.000 grey Bentley (M 768 MM 77). As told by traders, Mercury`s growth rate is still a biggest puzzle of the luxury market. We want to hear from you! Despite Phillips CEO condemning invasion of Ukraine, some argue that only a boycott will force owners to put pressure on Kremlin. Matthew Girling, the former CEO of Bonhams, a competing auction house, told The Art Newspaper that people should boycott Phillips over its Russian links. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. couscous salad with raisins and almonds. l***@mercury.ru. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. Anyone can read what you share. Subscribe today and save! Get our latest stories in the feed of your favorite networks. Over lunch in Milan, he and Alexander Reebok, Mercury's general manager, described their ambitious project to bring a purpose-built wood and steel luxury shopping village, with spa, restaurants and a hotel, to Zhukovka, an area where the dachas are a playground for the new super-rich. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. Earlier this month, Matthew Girling, the former CEO of Bonhams, told the Art Newspaper that people should boycott Phillips, which is owned by Russians Leonid Friedland and Leonid Strunin . We do not expect the recent sanctions to affect our business, a spokesperson for the auction house said, adding that Phillips does not conduct business with any individuals or institutions who are subject to sanctions.. All Rights Reserved. Source: History of criminal case N 18/277049-99. Two influential Russian figures in the global fashion business, Fridlyand and Strunin were amongst the first to establish early franchise and distribution rights for brands such as Dolce & Gabbana, Gucci and Prada within the former Soviet Union. Their visit to the luxury shops was related to the inspection of Ecolux, Mercury`s agent for international buying. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners.. Skuratov was very worried about the fact that his suits were paid by Mabetex, and he gave Borodin $10.000 pay-in, asking for the receipt. For example, the billionaire Roman Abramovich, the owner of Chelsea football club, placed the club under the stewardship of a trust over the weekend, no doubt a defensive measure given his reportedly close relationship with the Russian president Vladimir Putin. Traces from a golden toilet brought to Moscow, What "cones" are the threads of the Stavropol octopus, "There is almost no vaccine on the market and will not be added", Safonov is only a tentacle of the Stavropol octopus, Why the FSB does not trust the Main Investigative Directorate of the TFR in the Stavropol Territory, "If you don't help, you will be the 14th corpse". Mercury group has managed to extend the term of the House of Leningrad Trade (DLT) refurbishment contract to July. As for the multiple overpricing of luxury goods, in comparison with its producing country, there is no crime, because one is free to price the goods as far as they meet a ready sale. Mercury is also Russias largest retailer of luxury watches. Since 2008, the auction house has belonged to Leonid Friedland and Leonid Strunin, the owners of Russian luxury group Mercury. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. Phillips's new Manhattan headquarters at 450 Park Avenue, New York. Arnault sold his majority stake in 2002. All companies operating in the UK have to file accounts annually at Companies House with details of their finances and ownership. In November 2011, committee for the administration of state property hesitated to approve the new deadline, suspecting that the company would sell the DLT to Gasprom as the office space. More assertive action needs to be taken to try and stop what is going on in Ukraine. Russia has clearly emerged as an important art market., Phillips spokesperson Ariel Childs told ARTnewsletter, We are looking forward to announcing Moscow initiatives which will capitalize on the new arrangement with this major player in Russia.. (The Mercury Group is a Russian luxury-goods business owned by Leonid Friedland and Leonid Strunin, otherwise known as "the Leonids".) The Russian invasion of Ukraine, which took place on February 24th, shocked the whole world. Leonid Mikhelson, the billionaire owner of Russia's gas giant Novatek, has been supporting the Western art world for more than a decade, sponsoring exhibitions at the Art Institute of Chicago . Steven Cohen, a hedge-fund manager, agreed to consign it to Phillips in exchange for a third-party guarantee (also called an "irrevocable bid") rumoured to be from the house's principal owners, Leonid Friedland and Leonid Strunin (known in the art world as "the Leonids"). 2023 NYP Holdings, Inc. All Rights Reserved, powerful sanctions against Putins oligarchs, When disinfo specialists lie, Gray Ladys DeSantis frustration and other commentary, Putins former spin doctor-turned-critic dead, Ukraines northeastern front could decide new battle lines, Biden needs to step up military aid for Ukraine fast, unplugged from the SWIFT payments apparatus, said Wednesday that hed sell the Chelsea soccer team. Efforts to reach the Russian owners for comment were unsuccessful, although it is understood that the Russian nationals are in sympathetic sync with their auction house top brass in calling for peace. Russia is so centralised and repressed that anyone who is in the economic and cultural elite in that country is, in a way, complicit with the current regime, he added, likening the situation to firms based in Nazi Germany and the boycotts that sought to freeze out South African-controlled businesses in the Apartheid era. Phillips auction house has voiced its condemnation of Russias invasion of Ukraine. Still, Phillips said it doesnt fear financial hardship as a result of the war in Ukraine. The Russian group has owned Phillips since 2008, when it acquired the company from Simon de Pury for an estimated $60 million. All rights reserved. As a subscriber, you have 10 gift articles to give each month. Everybody knows about a $40 million buyer`s loan received from Sberbank, when Mercury purchased a building complex in Tretyakovsky proyezd. I dont think that anyone should be dealing with Russian or Russian-owned companies at the moment, said Andy Hall, an art collector and philanthropist. But the list is changing fast. She has opened several Babochka multi-brand boutiques, which represent brands such as Stella McCartney and Valentino, as well as mono-brand boutiques selling merchandise by Chanel, Fendi, Giorgio Armani and others. But Friedland discounts the idea that Russian clients are all about gold taps and flash taste. Friedland and Strunin have not been named among the people whose assets are being frozen by the US and UK, though even businessmen who are not being hit with sanctions could face difficulties. They are very wealthy, collect art and have a large footprint in the Russian economy, but they are not viewed as politically influential oligarchs and have not been placed under . With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . With an expanding market of eager, upbeat consumers, as opposed to retailers on shrinking budgets in the morose Western markets, Mercury's buyers are becoming luxury fashion's big spenders. LONDON (Reuters) - Auction houses Christie's, Sotheby's and Bonhams have cancelled sales of Russian art in London in June, part of the art market's response to Western sanctions on Russia as punishment for its invasion of Ukraine. Simon de Pury will continue as chairman of the company and will remain an important shareholder, according to a statement issued by Phillips. 1,556 executive movements have been recorded in the last 12 months. ARTnews is a part of Penske Media Corporation. Borodin didn`t accept Skuratov`s money, for he considered Scuratov`s earnings tiny compared to suites` price. The holding company runs a chain of luxury stores across the country, including the Moscow department store Tsum. Mr Fridlyand and Mr Strunins connection to the watch and jewelry world has not been widely reported but the art world has reacted strongly and is calling for collectors to boycott Phillips auctions, which has flagship operations in Geneva, New York and London. We call for an immediate cessation of all hostilities in the strongest possible terms.. The list includes a number of Russians but who are they? In a statement on Friday, theU.S. Department of the Treasurys Office of Foreign Assets Control said that it was targeting the two largest banks in Russia, the Public Joint Stock Company Sberbank of Russia and the VTB Bank Public Joint Stock Company. Mercury has stated that the city government pushes them towards purchasing these commercial spaces on upcoming auction, scheduled on November, 3. In a second Instagram post yesterday, the auctioneer announced that it will be donating 100% of the buyers premium and vendors commission from its recent 20th Century & Contemporary Art Evening Sale in London to the Ukrainian Red Cross Society. Today, there are calls for its boycott. Now Mercury is about to double its customer reach and its 1,000 strong work force by refurbishing TSUM, the dowager grand duchess of department stores, which brought luxury to Moscow in Russia's Belle Epoque. Other partners with a stake in the auction house include Phillips contemporary-art director Michael McGinnis and international specialist Michaela Neumeister. Moscow was literally springing back to life, with new galleries and glimpses of hope. Only a boycott of Phillips sales will get the attention of the world and the owners of Mercury to hopefully influence Putin to change his current chosen course of action. Mercury is also Russia's largest retailer of luxury watches. Friedland is said to look like Pierre Bezukhov, except that Pierre Bezukhov was not a diamond trader, and Friedland is the CEO of Mercury, the company selling luxury watch brands and jewelry in Russia. Get the week's best stories straight to your inbox. Hasonlan nehz helyzetbe kerlt az orosz kzben lev brit aukcishz, a Phillips is orosz tulajdonosi httere miatt. One director of Sothebys another auction house told the Telegraph that they were checking bulletins hourly to see whether any of their buyers and sellers were on any government sanctions lists. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. NEW YORKRussian luxury-goods company Mercury Group has acquired auction house Phillips de Pury & Company for an undisclosed price. to return $6400 to Borodin, according to the receipt. In 2005, the duo also launched the Barvikha Luxury Village development. bombing of a Ukrainian maternity hospital. TSUM was the main venue for the Second Moscow Biennale of Contemporary Art, and Barvikha Luxury Villagein a billionaire enclave just outside the citywas the venue for a Gagosian Gallery exhibition last October. Mercury's critics (always off the record) suggest that the company should teach the consumer that a luxury product is not just about logos; that it is ruthless in cutting deals to undermine its smaller competitors; and that its markups are outrageously high. Alumni of the Moscow Institute of Transport & Engineering, Fridlyand and Strunins initial venture into retail began as a small jewellery and watch outlet, quickly growing through strategic alliances with brands such as Bulgari, Chaumet and Tiffanybefore diversifying into fashion. His face expresses ultimate self-sufficiency. Other than suggesting . Most people think Simon de Pury is still the owner., However, Matthew Girling, the former chief executive of Bonhams (he left in 2020) and now an independent consultant, tells The Art Newspaper he believes people should still boycott Phillips over its Russian links. 8. This website uses cookies. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. For his relationship with Borodin was damaged, Skuratov asked his deputy Kolmogorov V.V. Earlier this month, Matthew Girling, the former CEO of Bonhams, told the Art Newspaper that people should boycott Phillips, which is owned by Russians Leonid Friedland and Leonid Strunin. Their retail network has almost 200 mono-brand boutiques all over Russia, among which are Armani Collezioni, Etro, Gucci, Max Mara, Audemars Piguet and Blancpain. Official website : TOP 4: Updating: Official website : TOP 5: Updating: Official website (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). Some buy art but many others go to exhibitions or become patrons and its maybe higher than your normal new London intake and they use it to get acquainted culturally here.. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. In autumn and winter 1997, Skuratov received 14 suites. That seller is starchitect Norman Foster. May 15, 2012 | 4:00am Not even a billionaire can rent out the Four Seasons Hotel's luxe Ty Warner suite for a party. According to the statement from Phillips, talks with Mercury Group began in July 2007 and continued for more than a year. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. That amounts to Borisenko monthly wage of $50.000. Girling, the former Bonhams CEO, said that only a boycott would get the attention of the owners of Mercury to hopefully influence Putin to change his current chosen course of action., We have seen how the world of banking, travel, leisure, sport and culture have responded to the crisis, he told The Art Newspaper. Renata Litvinova, actress, director and creative director at the Numro Russia magazine. Meanwhile, Hall said that even if people didnt want to boycott Phillips for moral reasons, practical reasons should stop people from placing bids: the risk is that Phillips accounts could be frozen and consignors find they dont see their sales proceeds. Maezawa bought the painting atChristies New York in May 2016 for a then record $57.2m (including fees). Immediately after high school, 17-year-old Volkova went to study at London's Central Saint Martins and in 2004 founded her own brand, Lotta Skeletrix, which made collections of street clothes in the postpunk style. In 2006-2007, the TSUM (principal owner is the luxury retailer Mercury) signed contracts with 24 staffing agencies, all of them using a simplified taxation scheme. Phillips, of course is owned by Mercury Group, founded in 1993 by the Russian entrepreneurs Leonid Friedland and Leonid Strunin who acquired the auction house in 2008, when it was known as Phillips de Pury & Luxembourg, for a reported $60m. The consigner then was the New York collector and dealer Adam Lindemann who acquired the early painting at Sothebys London in June 2004 for 2.4m (including fees). The Berkeley Square headquarters of Phillips, which was acquired in 2008 by Russian luxury-goods company Mercury Group. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. Dzhabrailov came to the party escorted by the milicia security guards and two blondes. Phillips CEO Stephen Brooks posted on social media that the auction house unequivocally condemn[s] the invasion of Ukraine. Mysterious Tomb Unearthed in Armenia, Containing a Couple Who DiedTogether. Mr Fridlyand and Mr Strunin are also owners of Mercury Retail Group, one of the largest retail conglomerates in Russia with 125,000 employees, according to its website, mainly in supermarkets and convenience stores. In an interview with The 'Russian owned' Art Newspaper he suggested that it "will get the attention of the world and the owners . Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. The lucrative sales are typically popular with Russian collectors, and a number of the wealthiestincluding Putin allies Petr Aven, who recently . In 2009, the Moscow City Property Department brought to the Moscow Arbitrary Court a 1,5 million roubles civil suit against the Torgovy Dom TSUM. According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. Source: Nezavisimaya Gazeta, 22 October 2003. Although Friedland does not give figures, sources in Moscow suggest that Mercury's annual turnover is $300 million outstripping its competitors in the luxury field. However, none of its competitors believe it. says Reebok. Kusnirovich and Moiseeva own another very large retailer Russias leading department store, GUM on Red Square. I have no idea if they will stay, to be honest, and it is very worrying. Anyone involved in this auction has blood on their hands, one outraged art consultant who did not want to be named told The Post. The company is involved in famous brand retail, mainly in St. Petersburg. Leonid Friedland and Leonid Strunin, owners of Mercury Group Leonid Friedland (right) and Leonid Strunin (center) / Source: PhotoXpress The company, Russia's largest luxury goods. This partnership with a major player in the luxury sector will allow us to provide a unique platform to new and fast growing markets, de Pury said in the statement. Subscribe today and save! The company, Russia's largest luxury goods retailer, was set up in 1993. At the time of the major private deal, Russia had recently emerged as a key art market player. Commenting on that, Scuratov explained that in late spring of 1997, the Kremlin's chief property manager Pavel Borodin informed him that the President had ordered to provide officials with formal suits, supposedly from government funds. But he could not clear up whether Skuratov`s suits were ordered through the Russian Art shop. Litvinova is often called the "Marlene Dietrich of today" and the "Russian icon of style." Miroslava Duma, publisher of Buro 24/7. He is not stingy at all and easily gives a discount to people whom he finds agreeable. It was founded in 1993 by Russian entrepreneurs Leonid Fridlyand and Leonid Strunin, who are reportedly close to Putin. Nine of the 10 most expensive watches were sold through Phillips in 2021, including a brand-new reference 5711 Patek Phillipe Nautilus watch created with Tiffany, which initially sold for $6.5 million, before the winning bidder withdrew and the second, under bidder was awarded the sale. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russias largest luxury retail company. Contemporary art star Anish Kapoor considers "Phillips as legitimate a target as the Chelsea football club", formerly owned by Roman Abramovitch. Here is how the art world responds to the conflict. In 2007, Mercury announced launching the Sochi Luxury Village Project (similar to the Barvikha Luxury Village in Moscow region) in Esta-Sadok settlement near Sochi. As evidence in support of his words, Borodin brought the Mabetex invoice dated 14 July 1998, in the name of Skuratov, for tailoring suites, shirts and neckties worth $39675 total. Mercury started investing into Expansion Redesign project of the DLT in 2005. Amid bloodshed in the Ukraine following the Russian militarys invasion in the country last week, sweeping economic sanctions targeting oligarchs with ties to the Russian government are being levied. Source: Kommersant-Online, 18 January 2012. Other groups and brands, including LVMH, Richemont and Richard Mille have not replied. Head of the Property Department Vladimir Silkin claimed that TD TSUM gains illegal profits from sales on city territory. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. He didn`t pay for the suits. Ironically, or so it would seem, Phillips also announced on Monday that it would be selling Jean-Michel Basquiats massive Untitled painting from 1982 from the collection of the Japanese billionaire Yusaku Maezawa in its 20th century and contemporary art sale in May in New York . Get our latest stories in the feed of your favorite networks. In 2001 they established BoscoSport, which dressed the IOC officials at the Olympics in Rio. It has stood alongside Chelsea as one of the jewels in the crown of Russian investments in Londongrad. Because Phillips is privately held, the company does not provide detailed information on its ownership. Friedland denied that, and Sberbank refused to comment on the situation, referring to trade secrets. The World's Premier Art Magazine since 1913. On Thursday, Phillips the Russian-owned auction house will hold a 20th Century and contemporary art auction where a three-picture series by artist Francis Bacon is expected to fetch up to $73 million. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region, said Stephen Brooks, Phillips CEO, in a statement to ARTnews. Russian entrepreneurs Leonid Fridlyand and Leonid Strunin, the duo also launched the Barvikha Village! 768 MM 77 ) UK have to file accounts annually at companies with... And it is very worrying Rado to Carrera y Carrera estimated $ 60 million launched the Barvikha luxury Village.... 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