Matthew Girling, the former CEO of Bonhams, a competing auction house, told The Art Newspaper that people should boycott Phillips over its Russian links. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Because Phillips is privately held, the company does not provide detailed information on its ownership. 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. For his relationship with Borodin was damaged, Skuratov asked his deputy Kolmogorov V.V. The watch firm Lange and Peter Avens investment firm have been approached for comment. 2023 Art Media, LLC. 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. owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. 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. Today she does shows for Vetements, Balenciaga and her friend Gosha Rubchinsky. Here are the companies that have cut ties with Russia over REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, McDonald's franchisees miffed over Cardi B, Offset celebrity meal: report, Home prices set for double-digit plunge in major Western US cities: Goldman Sachs, Neiman Marcus staffers sound alarms over luxury chain firing 'greeters', King Charles evicting Harry, Meghan from Frogmore Cottage, giving to Andrew, Hoda Kotbs lengthy Today show absence caused by family health matter, Ed Sheerans wife, Cherry Seaborn, was diagnosed with tumor during pregnancy, Heroic bus driver saves student from passing car, Meghan Markle, Prince Harry have first night out since bombshell 'Spare' released, King Charles to evict Harry and Meghan from Frogmore Cottage and give to Andrew. But there is one Western element that he does not yet see. An expert examination is scheduled to establish the suits` cost. More assertive action needs to be taken to try and stop what is going on in Ukraine. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. cam newton meeting with panthers / nainital lake distance / nainital lake distance 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. In 2001 they established BoscoSport, which dressed the IOC officials at the Olympics in Rio. (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). I have no idea if they will stay, to be honest, and it is very worrying. Former gossip editor at Harper's Bazaar Russia and one of the main Russian it-girls, in 2011 Duma established her own online business, which reconciled art with fashion. Her Naked Heart Foundation builds children's playgrounds throughout Russia and creates support centers for handicapped children and their parents. All companies operating in the UK have to file accounts annually at Companies House with details of their finances and ownership. 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. Some people say they dont want to mix business and politics, but thats ridiculous, Hall said. Yet Leonid Friedland is one of the most powerful men in fashion. Arnault sold his majority stake in 2002. All Rights Reserved. As told by traders, Mercury`s growth rate is still a biggest puzzle of the luxury market. Tax-back claims made against TSUM totalled $69 roubles. Head of the Property Department Vladimir Silkin claimed that TD TSUM gains illegal profits from sales on city territory. Maezawa bought the painting atChristies New York in May 2016 for a then record $57.2m (including fees). 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. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russia's largest luxury retail company. 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. Still, Phillips said it doesnt fear financial hardship as a result of the war in Ukraine. Born in 1969. 4. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. (The Mercury Group is a Russian luxury-goods business owned by Leonid Friedland and Leonid Strunin, otherwise known as "the Leonids".) 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. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. The company posted a Ukrainian flag on its Instagram page. Renata Litvinova, actress, director and creative director at the Numro Russia magazine. Find Leonid Friedland stock photos and editorial news pictures from Getty Images. Russian mogul Leonid Friedland, who runs Moscow luxury retail company. By Suzy Menkes, International Herald Tribune. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. In Russia she has been the face of various brands, from Rado to Carrera y Carrera. Phillips, Sothebys and Christies are expected to generate more than $800 million in sales this week up 35% from last year. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. Phillips runs a good operation, but so did German companies during WWII who were intimately involved with the Nazis, Hall wrote on his Instagram account. Kusnirovich and Moiseeva own another very large retailer Russias leading department store, GUM on Red Square. ", https://www.nytimes.com/2003/03/03/news/rising-czars-of-russias-retail-luxury.html, Suzy Menkes, International Herald Tribune. We call for an immediate cessation of all hostilities in the strongest possible terms.. We at Phillips unequivocally condemn the invasion of Ukraine. It was founded in 1993 by Russian entrepreneurs Leonid Fridlyand and Leonid Strunin, who are reportedly close to Putin. A post shared by Phillips (@phillipsauction). Br a szankcis listn egyikk sincs rajta, s a cg Instagramra kitett posztja alapjn . Mercury is also Russias largest retailer of luxury watches. 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. Skuratov himself decided how many suites he needed to purchase. 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. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. Name: Leonid Surname : Friedland Middle name : Yakovlevich Post : President and co-owner of Mercury Group Biography Born in 1969. 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. There are other billionaires, however, who've avoided the clampdown. 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 . Phillips has said it doesnt expect sanctions to affect its business. 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 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. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. 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. In 2003, the Central Customs Administration took an inventory of Armani, Gucci, Zegna and Dolche&Gabbana stores owned by Mercury in Moscow. 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. The artist always plays a prominent role in the twice-yearly contemporary sales in New York, but this season his work saw a phenomenal turnover of $181m, almost a third of the week's total proceeds. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. The World's Premier Art Magazine since 1913. All bets are off now. 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. 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. 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. . 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. Previously, de Pury was the majority shareholder. Karput established her avant-garde, street brand store in 2009, using the famous Colette in Paris as a model. 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. The holding company runs a chain of luxury stores across the country, including the Moscow department store Tsum. In autumn and winter 1997, Skuratov received 14 suites. He is also the founder of TSUM Art Foundation. 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. 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 . Mercury carefully distanced from Ecolux`s troubles with customs. 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. 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. l***@mercury.ru. Soon the brand closed and Volkova moved to Paris, where she started working as a stylist. But the list is changing fast. 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. 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. Name: Leonid Surname : Strunin Middle name : Izyaslavovich Post : General Director of Russian Art - XXI century Biography Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. 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. 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. As with the football club, critics such as Hall believe Phillips ties with Russia should now be severed. Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. 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.". Inspectors found that TSUM had been using this strategy of social tax evasion since 2004. The post quoted a message from Stephen Brooks, the auction house's chief executive: We at Phillips unequivocally condemn the invasion of Ukraine. 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. On his request, some bank`s transaction receipt was given to him, which later he brought to Skuratov. "People already had a great sense of taste and quality; it has always been there and how could luxury die?" 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. We call for an immediate cessation of all hostilities in the strongest possible terms, he said. He is also the founder of TSUM Art Foundation. 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. Its holdings include the Tretyakov Projezd and Barvikha Luxury Villageboth high-end. couscous salad with raisins and almonds. The auctioneer has also organized selling exhibitions of work by such contemporary artists as Julian Schnabel and Mario Testino, and represents the estate of Helmut Newton. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 7. Since 2008, the auction house has belonged to Leonid Friedland and Leonid Strunin, the owners of Russian luxury group Mercury. Tom Ford Friedland v Strunin cng s hu Mercury Retail Group, mt trong nhng nh bn l hng xa . Will art buyers show solidarity with Ukraine or will the art world display its usual hypocrisy?. 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. The people shaping the global fashion industry, curated by the editors of The Business of Fashion, based on nominations and on-the-ground intelligence from around the world. 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. Phillips accounts for around one third of the 400 million spent on luxury watches at auction in 2021, a record year for the sector. The U.K. announced sanctions targeting five banks and high net worth Russian oligarchs in Vladimir Putins close circle. Click here to find out more. "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. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. Later a caf opened in the concept store. Phillips is owned by Mercury Group, which is Russias largest luxury-goods company. In an interview with The 'Russian owned' Art Newspaper he suggested that it "will get the attention of the world and the owners . 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. A Phillips statement said that its sales of contemporary art rose 80 percent between 2007 and 2008. 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. "It is not as successful as showing it off. 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. The Russian invasion of Ukraine, which took place on February 24th, shocked the whole world. The first stores are to be opened by 2011, the whole Village Project to be completed by the start of the Olympic Games. We call for an immediate cessation of all hostilities in the strongest possible terms.. 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. This intermediary firm was charged with regular custom value underreporting. The colleagues of Leonid Friedland. Source: Nezavisimaya Gazeta, 22 October 2003. leonid friedland net worth. 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. Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. 1,556 executive movements have been recorded in the last 12 months. ARTnews is a part of Penske Media Corporation. Source: Komsomolskaya Pravda, 15 November, 2002. Dtenue depuis 2008 par les Russes Leonid Friedland et Leonid Strunin (propritaires de Mercury Group), Phillips avait t rachete pour prs de 60 millions de dollars au commissaire-priseur et marchand suisse Simon de Pury. 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. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russias largest luxury retail company. 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. We at Phillips unequivocally condemn the invasion of Ukraine. Mercury is also Russia's largest retailer of luxury watches. 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. With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . 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. But no one argues that, while other emerging markets like China's Shanghai have yet to realize their potential, Moscow has become luxury's land of plenty. 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. 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. Other groups and brands, including LVMH, Richemont and Richard Mille have not replied. In 1999, Umar Dzhabrailov, a successful buisinessman from Yuri Lujkov`s circle and the owner of Plaza Group (Danako Oil Company, PR-agency Tijaya Gavan`, the Raddison-Slavianskaya Hotel, where its American co-owner was killed) invited his closest friends to his birthday party. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. The company is involved in famous brand retail, mainly in St. Petersburg. The holding company runs a chain of luxury stores across the country,. 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.. 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. Russian teams have been excluded from world sporting competitions and oligarchs like Roman Abramovich are seeing pressure to sell their teams. The Russian group has owned Phillips since 2008, when it acquired the company from Simon de Pury for an estimated $60 million. The company representatives stated that the name Ecolux meant nothing to them, and they are not aware of any supplier with such name. 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. His greatest pride is his tank with piranhas. 2023 Art Media, LLC. 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). Learn more about Luxury Goods. 3. Biography . Leonid Friedland and Leonid Strunin, owners of Mercury Group, Leonid Friedland (right) and Leonid Strunin (center) / Source: PhotoXpress. According to Companies House in the United Kingdom, Phillips has two owners with significant control: Leonid Fridlyand and Leonid Strunin. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. His face expresses ultimate self-sufficiency. They are owned by the luxury brands company Mercury Group, headed by two Russian owners, Leonid Friedland and Leonid Strunin. 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. TD TSUM owns and runs the oldest Moscow department store TSUM, located in the city center. bombing of a Ukrainian maternity hospital. 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. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. Copyright 2023 Promedia Digital Ltd. All Rights Reserved. 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. 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. Abramovich, Alisher Usmanov and Leonid Strunin he is also leonid friedland and leonid strunin founder of TSUM art Foundation have to file annually. 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