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. 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. The two Russians who own Phillips and control a business empire in Russia Leonid Friedland and Leonid Strunin are not on the same plane as Abramovich, though. His greatest pride is his tank with piranhas. However, none of its competitors believe it. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. 4. Russian teams have been excluded from world sporting competitions and oligarchs like Roman Abramovich are seeing pressure to sell their teams. But the list is changing fast. Mysterious Tomb Unearthed in Armenia, Containing a Couple Who DiedTogether. May 15, 2012 | 4:00am Not even a billionaire can rent out the Four Seasons Hotel's luxe Ty Warner suite for a party. Also up for auction, according to Londons Telegraph newspaper, are five Monets from the collection of Daniel Snyder, the American owner of the Washington Commanders, formerly known as the Washington Redskins. 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. 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). Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin,. In a Financial Times interview in 2017, Aven identified his favourite piece as Les Maisonettes Rouges by Marc Chagall, bought for a recorded 3.3m. 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. 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.. What Mercury thinks of all this and how it affects the health of its investment is a matter of speculation, since principles Leonid Friedland and Leonid Strunin do not speak to the media. Their visit to the luxury shops was related to the inspection of Ecolux, Mercury`s agent for international buying. 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. Yet Leonid Friedland is one of the most powerful men in fashion. 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.. Source: History of criminal case N 18/277049-99. He is also the founder of TSUM Art Foundation. 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. Leadership Insights for the 21st Century 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. All rights reserved. Find Leonid Friedland stock photos and editorial news pictures from Getty Images. Update the org chart details of Leonid Friedland. A post shared by Phillips (@phillipsauction). As with the football club, critics such as Hall believe Phillips ties with Russia should now be severed. Phillips CEO Stephen Brooks posted on social media that the auction house unequivocally condemn[s] the invasion of Ukraine. The duo also currently operate franchises for luxury car makers such as Ferrari, Maserati and Bentley and in 2008 acquired art auctioneers Phillips de Pury & Company, further expanding their extensive luxury portfolio. Click here to find out more. 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. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. The U.K. announced sanctions targeting five banks and high net worth Russian oligarchs in Vladimir Putins close circle. All rights reserved by Rossiyskaya Gazeta. Russia was the 17th largest market in the world for Swiss watches last year, receiving exports worth CHF 260 million with a retail value of over half a billion francs. Borodin didn`t accept Skuratov`s money, for he considered Scuratov`s earnings tiny compared to suites` price. 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. Inspectors found that TSUM had been using this strategy of social tax evasion since 2004. At the time of the major private deal, Russia had recently emerged as a key art market player. The company representatives stated that the name Ecolux meant nothing to them, and they are not aware of any supplier with such name. 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. Phillips's new Manhattan headquarters at 450 Park Avenue, New York. Feeling responsible for the expenses incurred by the firm, Borodin asked Bhegjet Pacolli to pay for Skuratov. He is also the founder of TSUM Art Foundation. An expert examination is scheduled to establish the suits` cost. 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"). De Sole is already on board for Gucci and Yves Saint Laurent stores and Mercury expects Brioni and Dolce & Gabbana to sign up, Roberto Cavalli to open a Just Cavalli cafe and Armani Casa to be the foundation of lifestyle and home ranges. "People already had a great sense of taste and quality; it has always been there and how could luxury die?" The lucrative sales are typically popular with Russian collectors, and a number of the wealthiestincluding Putin allies Petr Aven, who recently . 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. (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). In February 1998, Borodin gave him a $6400 payment receipt and some foreign currency cash. "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. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. In 2005, the duo also launched the Barvikha Luxury Village development. But like real estate, the art market has received temporary exemptions from anti-money laundering regulations in the US for the past two decades. Deputy Head of Moscow City Government Iosif Orjonikidze, head of Sobinbank Alexander Zanadvorov, show-biz entrepreneur Boris Zosimov with his wife Polina, Chairman of Mercury Leonid Strunin, president of the BIN bank Mikhael Shishkhanov and head of SVA bank Sergey Kovanda. "Stealth wealth is not working yet in Russia," Friedland says. Can the art market simply ignore it and carry on as normal?. Mercury started investing into Expansion Redesign project of the DLT in 2005. According to the statement from Phillips, talks with Mercury Group began in July 2007 and continued for more than a year. Email. 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. People take note of the Conservative MP who said that everyone who is Russian should be sent back and another who suggested Russian deposits should be limited to 50,000., They added: The collectors of art are rare in any group but it might be a higher percentage among this group because they have the means, the time and also the interest and incentive. bombing of a Ukrainian maternity hospital. This intermediary firm was charged with regular custom value underreporting. The company owns fashion boutiques selling Goiorgio Armany, Patek Philippe, Dolce & Gabbana, Prada, Tod's, Rolex, Bvlgari, Tiffany & Co., Chopard, Bentley, Ferrari, Maserati cars and other luxury brands. 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. As told by traders, Mercury`s growth rate is still a biggest puzzle of the luxury market. 8. Mysterious Tomb Unearthed in Armenia, Containing a Couple Who DiedTogether, Phillips Reaches $1.3 B. in 2022, But Asia Sales Declined, ArtPrize's Board Disbands, German Government Buys Back Hamburger Bahnhof's Building, and More: Morning Links for November 16, 2022. Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. Contact. 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. Send us a tip using our anonymous form. Many of the most high-profile works set to be auctioned on Thursday are by artists popular with Russians, like a 1980s triptych by Francis Bacon expected to fetch up to $73 million. Mikhail Kusnirovich and Ekaterina Moiseeva, owners of Bosco di Ciliegi. 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. Phillips is listed by Companies House as having two owners "with significant control" - Leonid Fridlyand and Leonid Strunin - Russians who give their address as the company's Mayfair . 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 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. TD TSUM owns and runs the oldest Moscow department store TSUM, located in the city center. Friedland v Strunin cng s hu Mercury Retail Group, mt trong nhng nh bn l hng xa . Source: Kommersant-Online, 18 January 2012. (Ralph Lauren is still being vigorously courted). The Business of Fashion publication has published a list of the top 500 most influential people in the world of international fashion. With charitable donations and public statements in support of Ukraine, Phillips, an auction house owned by Russians, is trying to deflect those pushing for a boycott of its business. While last months EU sanctions led to the French government seizing a yacht belonging to another oligarch, Igor Sechin, Avens work does not appear to be at risk of being confiscated by the UK government at least for now. 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. Friedland denied that, and Sberbank refused to comment on the situation, referring to trade secrets. But he could not clear up whether Skuratov`s suits were ordered through the Russian Art shop. It is also the worlds largest unregulated market and it has become a powerful weapon for Putins oligarchs to launder billions of dollars. They provided the donation but its really not back to business as usual, and I think buyers and consignors should take their business elsewhere. 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. Neither Fridlyand nor Strunin is on a US or UK sanctions list and Phillips told The Art Newspaper it wouldnt do business with anyone who was on a sanctions list. The post quoted a message from Stephen Brooks, the auction house's chief executive: We at Phillips unequivocally condemn the invasion of Ukraine. In recent years, Phillips has successfully carved out a niche for itself by holding sales of cutting-edge contemporary art, photography and design, in addition to conducting private treaty sales. Source: Nezavisimaya Gazeta, 22 October 2003. 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. Russian Vogue wrote about the 33-year-old stylist from Vladivostok saying that, " she introduced the 'new Russian' style of 'guys from the neighborhood' to high fashion.". 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. All Rights Reserved. Dzhabrailov came to the party escorted by the milicia security guards and two blondes. Tax-back claims made against TSUM totalled $69 roubles. The list includes a number of Russians but who are they? Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. Other groups and brands, including LVMH, Richemont and Richard Mille have not replied. leonid friedland net worth. Anyone can read what you share. 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. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. 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. I have no idea if they will stay, to be honest, and it is very worrying. Neither Mr Fridlyand nor Mr Strunin is on a US or UK sanctions listand Phillips told The Art Newspaper it wouldnt do business with anyone who was on a sanctions list. 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 . As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin, are fashion's rising czars. We call for an immediate cessation of all hostilities in the strongest possible terms.. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russia's largest luxury retail company. We call for an immediate cessation of all hostilities in the strongest possible terms.. 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. Phillips said earlier this week it does not expect sanctions to affect its business. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. Still, Phillips said it doesnt fear financial hardship as a result of the war in Ukraine. Mercury also holds the Moscow Central Universal Department Store (TSUM), a chain of boutiques and stores in Moscow and regions. 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. 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 want to hear from you! He is also the founder of TSUM Art Foundation. Maezawa bought the painting atChristies New York in May 2016 for a then record $57.2m (including fees). Olga Karput, creator of the Kuznetsky Most 20 concept store. The 226-year-old auction house ranks behind only Sothebys and Christies as one of the sectors major international players, and now markets itself as the worlds most dynamic and forward-thinking auction house, with inroads in new markets such as non-fungible token (NFTs). ARTnews is a part of Penske Media Corporation. In 2008, the company`s revenue amounted to 9, 832 billion roubles, sales proceeds totaled 95 million roubles. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. 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. Phillips has had its share of ups and downs in the past decade. This sum only covers the period of 2006-2009, with TSUM using the simplified scheme in 2004-2007. "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. In February 2016 she worked on Sander Lak's debut with the brand Sies Marjan. owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. He is not stingy at all and easily gives a discount to people whom he finds agreeable. Some people say they dont want to mix business and politics, but thats ridiculous, Hall said. According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. 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. 2023 The Business of Fashion. Matthew Girling has also urged collectors to boycott Phillips. The main elements of her image are elegance in black tones, a wavy 1940s-style haircut and bright red lipstick. All bets are off now. 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. Leonid Friedland had already declared that Mercury didn`t participate in foreign trade activities, in fact, he had no idea how the goods were delivered to Moscow. More assertive action needs to be taken to try and stop what is going on in Ukraine. We call for an immediate cessation of all hostilities in the strongest possible terms, he said. 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. 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. Later a caf opened in the concept store. 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. He suggested ordering suits from the firm Zegna, Property Management Department`s official partner at that time. We at Phillips unequivocally condemn the invasion of Ukraine. Anyone involved in this auction has blood on their hands, one outraged art consultant who did not want to be named told The Post. Borodin took Skuratov to the tailor to be measured, then he placed an order for 6 suits. Or, as Gucci's Domenico de Sole puts it: "If you want to do business in Russia, they do an excellent job.". Born in 1969. In an Instagram post on March 1, the companys CEO Stephen Brooks reacted with dismay to the organizations 289,000 followers at the invasion of Ukraine. After Rei Kawakubo (Comme DesGarons) took the young Russian designer and photographer under her wing in 2010, he became a household name among the world's fashion buffs. 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. 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. Kawakubo not only dedicated a corner of her cult Dover Street Market in London to his sweaters and sweatpants with Cyrillic writing but also helped him with just about everything else: from sewing prototypes to promotion to selling in her Paris showroom. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. 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. 3. 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. With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . Subscribe today and save! Despite it donating 5.8m to the Ukrainian Red Cross Society from a recent auction in London, and its CEO condemning the Russian invasion, those calling for the company to be shunned argue that only a boycott will force its Russian business figures such as its owners Leonid Friedland and Leonid Strunin to put pressure on the Kremlin. He didn`t pay for the suits. Simon de Pury will continue as chairman of the company and will remain an important shareholder, according to a statement issued by Phillips. You have entered an incorrect email address! Its upsetting because its a step towards changing the culture, too. Get our latest stories in the feed of your favorite networks. Soon the brand closed and Volkova moved to Paris, where she started working as a stylist. That seller is starchitect Norman Foster. Phillips accounts for around one third of the 400 million spent on luxury watches at auction in 2021, a record year for the sector. Karput established her avant-garde, street brand store in 2009, using the famous Colette in Paris as a model. One of the principal divas of Russian cinema, Litvinova is a student and follower of the great filmmaker Kira Muratova. Friedland and Strunin also own the Mercury Retail Group, one of Russia's largest luxury goods retailers. Because Phillips is privately held, the company does not provide detailed information on its ownership. In Friedland's analogy, it is "the East Hampton of Moscow" where 70 percent of customers who live there are top gear people." They say that until recently, this luxury trader has enjoyed bringing his Mom to the high-end parties, that certainly speaks volumes for him, as well as the Mercury annual turnover, estimated at $150 million. Borodin testified that he had got the idea about tailored suits because of Skuratov`s limited choice of clothing. Art consultants in London this week who did not want to be named, say they are busier than ever although there may be fewer Russians buying. "It is not as successful as showing it off. By Suzy Menkes, International Herald Tribune. 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. But some art watchers say thats not good enough. 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. Today, there are calls for its boycott. 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 group has managed to extend the term of the House of Leningrad Trade (DLT) refurbishment contract to July. Earlier this month, Matthew Girling, the former CEO of Bonhams, told the Art Newspaper that people should boycott Phillips, which Russians Leonid Friedland and Leonid Strunin own. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. Read More . Her Naked Heart Foundation builds children's playgrounds throughout Russia and creates support centers for handicapped children and their parents. 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. , Containing a Couple who DiedTogether by the milicia security guards and blondes... ( Ralph Lauren is still a biggest puzzle of the largest luxury goods retailers to people whom he agreeable. 'S debut with the brand Sies Marjan net worth Russian oligarchs in Vladimir Putins close.! Scheduled to establish the suits ` cost 20 concept store [ Stephen Brooks ] has this. Asked Bhegjet Pacolli to pay for Skuratov, he said Skuratov, stating that... Divas of Russian cinema, Litvinova is a student and follower of the DLT 2005! Sell their teams and their parents owns and runs the oldest Moscow Department store,. 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