Subscribe today and save! With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . 2/18/2023 6:53 AM. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. The luxury group started with a 30-square-meter (322-square-foot) shop selling watches that has developed into the current focus on jewelry brands that include Bulgari, Chaumet, Chopard, Graff, de Grisogno and Tiffany. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. Source: Kommersant-Online, 18 January 2012. 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. Mercury has stated that the city government pushes them towards purchasing these commercial spaces on upcoming auction, scheduled on November, 3. A Phillips statement said that its sales of contemporary art rose 80 percent between 2007 and 2008. Learn more about Luxury Goods. Aside from its owners referred to in the art world as the two Leonids the other most visible Russian in the British art world is Peter Aven, a UK-based oligarch who stepped down from a London-based investment conglomerate and a prestigious Royal Academy position after he and other oligarchs were hit by EU sanctions. Anyone involved in this auction has blood on their hands, one outraged art consultant who did not want to be named told The Post. Olga Karput, creator of the Kuznetsky Most 20 concept store. Dior and Saint Laurent: Twilight of the Gods. We've received your submission. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 8. Contact. Friedland and Strunin have not been named among the people whose assets are being frozen by the U.S. and U.K., though even businessmen who are not being hit with sanctions could face difficulties going forward. 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. Litvinova is often called the "Marlene Dietrich of today" and the "Russian icon of style." We at Phillips unequivocally condemn the invasion of Ukraine. Unofficially, senior Phillips folks are reaching out to investors like Hall to convince them to continue to do business with the auction house, Hall said. Boasting an extensive real estate portfolio, the duo have overseen the construction of the countrys most prominent luxury developments such as the TsUM department store housed in a historical building close to the Bolshoi Theatre in Moscow the DLT TsUM in Saint Petersburg and the affluent Tretyakovsky Proezd shopping arcade. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners.. Still, Phillips said it doesn't fear financial hardship as a result of the war in Ukraine. 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. owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. 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. 2023 The Business of Fashion. The main elements of her image are elegance in black tones, a wavy 1940s-style haircut and bright red lipstick. On Tuesday, Phillips launched a whisper campaign to let potential buyers know that their sellers are not on any sanctions lists or have any ties to Putin, according to people familiar with the matter. Email. Mercury reputedly paid around US$60 million to acquire a majority share, although the actual transaction was private. 4. Now those new projects are frozen and nothing can be taken out of Russia., Stephen Brooks, the CEO of Phillips, said earlier this month: We at Phillips unequivocally condemn the invasion of Ukraine. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. Top-tier auction houses Christie's, Sotheby's, and Bonhams have all called off their sales of Russian art, slated to take place in London in June, as Vladimir Putin's invasion of Ukraine grinds on and the crisis in that country deepens. Former Bonhams C.E.O. Yesterday, the Russian-owned auction house Phillips (which last year realised a best ever $993.3m in auction and private sales) attempted to clear the air on Instagram by posting a statement in support of Ukraine, also posted by Jean Paul Engelen, the firms recently appointed president, Americas and co-head of 20th century and contemporary art. His greatest pride is his tank with piranhas. Inspectors found that TSUM had been using this strategy of social tax evasion since 2004. By Elizabeth Howcroft LONDON, March 16 (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. One of the principal divas of Russian cinema, Litvinova is a student and follower of the great filmmaker Kira Muratova. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. 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. Tax-back claims made against TSUM totalled $69 roubles. Russian mogul Leonid Friedland, who runs Moscow luxury retail company. If there was a professional performance contest among Russian reshaly (problem-solvers), Major General Igor Alekseevich Borisenko, Counsillor of Justice 3d class and Supreme Court Justice Deparment officer, could won by head. Besides that, Strunin has told about the fact that took place in 1998, when Mabetex made a transfer of about $100.000 to Ermeneglido Zegna, allegedly for tailoring male suites. 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. 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. Its holdings include the Tretyakov Projezd and Barvikha Luxury Villageboth high-end shopping centersand TSUM, its flagship department store, next door to Moscows Bolshoi Theater. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. CEO and founder of Russian Art Leonid Strunin explained that on terms of contract, his company is entitled to represent the Italy firm Ermeneglido Zegna, retail its products and accept private orders. Source: Komsomolskaya Pravda, 15 November, 2002. carson wentz rushing yards per game. Friedland and Strunin, who are not subject to any sanctions, list their addresses on Companies House as the Berkeley Square headquarters of Phillips, which was acquired in 2008 by their Russian luxury goods company, Mercury Group. But he could not clear up whether Skuratov`s suits were ordered through the Russian Art shop. Among them are Gennady Timchenko, an energy mogul and owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. According to the statement from Phillips, talks with Mercury Group began in July 2007 and continued for more than a year. The post quoted a message from Stephen Brooks, the auction house's chief executive: We at Phillips unequivocally condemn the invasion of Ukraine. That amounts to Borisenko monthly wage of $50.000. 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. Named after the Roman god of commerce, the Mercury Group, one of Russias largest retail and real estate conglomerates, was founded by Leonid Fridlyand and Leonid Strunin in 1993. De Pury, however, is completely sanguine about the two Leonids' attitude. Matthew Girling, the former CEO of Bonhams, a competing auction house, told The Art Newspaper that people should boycott Phillips over its Russian links. 2023 Art Media, LLC. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. 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. The Instagram post featured a blue and yellow abstraction by Ellsworth Kelly, the same colours of the Ukrainian flag. The holding company runs a chain of luxury stores across the country . In Friedland's analogy, it is "the East Hampton of Moscow" where 70 percent of customers who live there are top gear people." Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. The event and forthcoming auctions will also be a litmus test of feeling towards Phillips, which insists it is business as usual in the face of a boycott by respected figures in the art world. Thats because oftentimes bidders are shrouded in secrecy and store their physical assets and thus any trace of ownership in clandestine, off-the-books locations. The actions, the department said, impose severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system designed to isolate Russia from international finance and commerce. The executive order targets roughly 80 percent of all banking assets in Russia. He is a bit vain, though carefully conceals this fact: his photograph is kept behind the wall of his office and can be shown only to chosen ones. Phillips is owned by Mercury Group, which is Russias largest luxury-goods company. Mercury is run by Leonid Friedland and his associate, Leonid Strunin. 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. Read More . We have seen how the world of banking, travel, leisure, sport and culture have responded to the crisis. At Mercury Group, Leonid Friedland has 1 colleague. We want to hear from you! I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. ARTnews is a part of Penske Media Corporation. , Brioni, Balenciaga and Tods. 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. Subscribe to The Art Newspapers digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. But the list is changing fast. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russia's largest luxury retail company. It did feel quiet, said one attender at the preview, where viewers sipped espressos as vintage German-made Lange watches, labelled with six-figure prices in dollars and Swiss francs, lay behind display cases for an exhibition next month. The colleagues of Leonid Friedland. Therefore, allowing this to go on when the UK is trying to tighten up its financial system shows a lack of commitment to close the loopholes, Shelley said of the Thursday auction. "They are quite young, mostly in their 30s and up to 45, and they are quite well educated about fashion and they would like to know more," Friedland says. 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. "People already had a great sense of taste and quality; it has always been there and how could luxury die?" Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 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. 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. In 2005, the duo also launched the Barvikha Luxury Village development. Friedland v Strunin cng s hu Mercury Retail Group, mt trong nhng nh bn l hng xa . All Rights Reserved. All bets are off now. 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. Matthew Girling, chief executive of Bonhams until 2020, told The Art Newspaperhe believes people should still boycott Phillips over its Russian links. 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