Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. Head of the Property Department Vladimir Silkin claimed that TD TSUM gains illegal profits from sales on city territory. In February 1998, Borodin gave him a $6400 payment receipt and some foreign currency cash. TD TSUM owns and runs the oldest Moscow department store TSUM, located in the city center. Yet Leonid Friedland is one of the most powerful men in fashion. He is not stingy at all and easily gives a discount to people whom he finds agreeable. Contact. Mysterious Tomb Unearthed in Armenia, Containing a Couple Who DiedTogether. 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. According to Companies House in the United Kingdom, Phillips has two owners with significant control: Leonid Fridlyand and Leonid Strunin. A day after the horrific bombing of a Ukrainian maternity hospital, visitors to the Mayfair offices of the Russian-owned auction house Phillips could not help but wonder if an event preview seemed subdued. But the list is changing fast. Mercury will build a five-star hotel, Armani, Dolce & Gabbana, Prada, Gucci and Chopard boutiques, restaurants, a concert and conference hall in the area of 8 hectares. Phillips also recently announced its exclusive representation of photographer Annie Leibovitz (see story below). Set in grounds of over 80,000 square metres complete with hotels, spas and a concert hall, the village also boasts a dedicated shopping street lined with brands such as Send us a tip using our anonymous form. 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. 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. Friedland v Strunin cng s hu Mercury Retail Group, mt trong nhng nh bn l hng xa . Subscribe today and save! He called Borodin on it, then gave him $10.000, requesting a receipt to prove the payment for suits. ARTnews is a part of Penske Media Corporation. The Let`s Solve the Money Issue buisiness proposal, usually welcomed among the Ministry of Internal Affairs officers, transforms into $300.000, with Borisenko taking $250.000. All Rights Reserved. Mercury is also Russia's largest retailer of luxury watches. 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 . ARTnews is a part of Penske Media Corporation. 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. Email. Having created from a rundown arcade, the Tretyakov Projezd, a mall of brands that Friedland describes as "Moscow's Via Montenapoleone" (referring to the upscale Milan street), Friedland has discovered more fertile areas to seed with its luxury brands from Fendi furs through Tod's shoes. 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. "Stealth wealth is not working yet in Russia," Friedland says. (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). In 2008, the company`s revenue amounted to 9, 832 billion roubles, sales proceeds totaled 95 million roubles. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. This website uses cookies. The company owns fashion boutiques selling Goiorgio Armany, Patek Philippe, Dolce & Gabbana, Prada, Tods, Rolex, Bvlgari, Tiffany & Co., Chopard, Bentley, Ferrari, Maserati cars and other luxury brands. 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. Alexandra Gordienko, creator of the Marfa Journal. 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. By Suzy Menkes, International Herald Tribune. Still, Phillips said it doesnt fear financial hardship as a result of the war in Ukraine. The art world is delusional if it feels it can escape it.. The company received the Saint-Petersburg project as far back as 2005, but has failed to meet the deadline. The Instagram post featured a blue and yellow abstraction by Ellsworth Kelly, the same colours of the Ukrainian flag. Source: Nezavisimaya Gazeta, 22 October 2003. Mercury is run by Leonid Friedland, whom the style writer Suzy Menkes has described as "one of the most powerful men in fashion," and his associate, Leonid Strunin. The holding company runs a chain of luxury stores across the country, including the Moscow department store Tsum. In the UK, where Aven has a home in Surrey, he has previously been happy to speak about and showcase a range of valuable art assets. I would not like to be the auctioneer this week, one lead auctioneer told the paper. He didn`t pay for the suits. Mercurys properties house boutiques for such fashion brands as Gucci, Prada and Giorgio Armani, as well as showrooms for Ferrari, Maserati and Bentley automobiles. 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. With questions lingering about how businesses of all kinds will be impacted, the auction house Phillips, which is owned by Russian luxury retailer Mercury Group, has said it doesnt expect sanctions to affect its operations. 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. 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. However, none of its competitors believe it. Avsadzhanashvili is head of the family business that her parents established in 1988. 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. On August 23, the Mercury construction director Dmitry Eliseev wrote to the first deputy chairman of Saint-Petersburg commitee for construction Nikolay Krutov, asking him for 10-month extention of the term. 2023 Art Media, LLC. (The Mercury Group is a Russian luxury-goods business owned by Leonid Friedland and Leonid Strunin, otherwise known as "the Leonids".) The historic building, near the Bolshoi, will be refurbished to its former grandeur, enlarged with a new development at the back, and become a palace of brands. Can the art market simply ignore it and carry on as normal?. 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. The billionaires obviously came but then they brought a next wave, including those who worked with and for them as well as others who came simply because they could, said one concerned Russian whose business is part of a network of advisories and consultancies catering for compatriots needs on schooling, property and culture. In Russia she has been the face of various brands, from Rado to Carrera y Carrera. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. We at Phillips unequivocally condemn the invasion of Ukraine. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin, are fashion's rising czars. Asked if he thought the Russian ownership label would harm Phillips's reputation, Albert Biton, a New York private dealer active in the auction trade tells The Art Newspaper: No, it wont affect their business because art collectors are not that thoughtful about it. 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. All rights reserved. We at Phillips unequivocally condemn the invasion of Ukraine. Fridliand says that all investions are made from the annual net gain; Mercury`s policy allegedly has no room for taking out loans or selling shares. But there is one Western element that he does not yet see. Matthew Girling, the former CEO of Bonhams, a competing auction house, told The Art Newspaper that people should boycott Phillips over its Russian links. According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. Other partners with a stake in the auction house include Phillips contemporary-art director Michael McGinnis and international specialist Michaela Neumeister. After Borodin had left, Skuratov counted the money to realize that he was given back the same $10.000. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. Mercury is also Russias largest retailer of luxury watches. Dzhabrailov came to the party escorted by the milicia security guards and two blondes. Mercury also holds the Moscow Central Universal Department Store (TSUM), a chain of boutiques and stores in Moscow and regions. Litvinova is often called the "Marlene Dietrich of today" and the "Russian icon of style." 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 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. But Friedland discounts the idea that Russian clients are all about gold taps and flash taste. Borodin testified that he had got the idea about tailored suits because of Skuratov`s limited choice of clothing. But he could not clear up whether Skuratov`s suits were ordered through the Russian Art shop. The Ukrainian Red Cross Society is doing incredible work to support and protect people in the region, and it is our hope that the 5.8 million of buyers premium and vendors commission from our Evening Sale will help this extraordinary charity as they continue their life saving mission, Mr Brooks shared. says Reebok. The first stores are to be opened by 2011, the whole Village Project to be completed by the start of the Olympic Games. 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. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. Former Bonhams C.E.O. NEW YORKRussian luxury-goods company Mercury Group has acquired auction house Phillips de Pury & Company for an undisclosed price. 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. 2023 Art Media, LLC. All bets are off now. 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 going forward. Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. Source: Komsomolskaya Pravda, 15 November, 2002. More assertive action needs to be taken to try and stop what is going on in Ukraine. In 2002 Time magazine placed its owners on the list of 25 most influential people in the world of fashion. Mercury is also Russias largest retailer of luxury watches, Swatch Group has already said it has stopped exporting watches to Russia, Patek Phillipe Nautilus watch created with Tiffany, LVMH and Richemont suspend operations in Russia, Breitling CEO joins street protest against Russian invasion of Ukraine, eBay auctions Milus Snow Star Boreal Green to raise money for Red Cross in Ukraine, Christopher Ward gifts Ukraine watch to 18-year-old refugee from his war-torn country, Sanctions push Harrods to limit watch sales to Russian customers. 2023 The Business of Fashion. From talking to Pacolli, he learned about the sum of approximately $30.000 paid for the suits. ", https://www.nytimes.com/2003/03/03/news/rising-czars-of-russias-retail-luxury.html, Suzy Menkes, International Herald Tribune. In January 1998, the Swiss attorney general Carla Del Ponte informed Scuratov about Behgjet Pacolli`s testimony that Mabetex had paid for tailoring. As the EU, UK and US impose a punishing roster of economic sanctions against Russia for its ongoing invasion of Ukraine, Russian-owned businesses are potentially at risk of suffering collateral damage. Hall, whose collection of more than 5,000 pieces includes noted works by Ed Ruscha, Barbara Kruger and Julian Schnabel, told The Post he bought something from Christies another competing auction house on Wednesday, but wouldnt buy from Phillips. But some art watchers say thats not good enough. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin,. "And I haven't seen anywhere such a cluster of luxury goods presented without altering the spirit," says Umberto Angeloni, CEO of Brioni, which already has three stores in Moscow. 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". Kusnirovich and Moiseeva own another very large retailer Russias leading department store, GUM on Red Square. Friedland denied that, and Sberbank refused to comment on the situation, referring to trade secrets. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . 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