ARTnews is a part of Penske Media Corporation. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 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. 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. While many tended to have traditional tastes, the same source said it was particularly sad as sanctions on Russia, and the clampdown on the movement of money, would halt a growing trend towards collecting and preserving more recent Russian art and history. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. 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. The watch firm Lange and Peter Avens investment firm have been approached for comment. 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. 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. Get our latest stories in the feed of your favorite networks. Get our latest stories in the feed of your favorite networks. 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. 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. 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. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. Everybody knows about a $40 million buyer`s loan received from Sberbank, when Mercury purchased a building complex in Tretyakovsky proyezd. According to Companies House in the United Kingdom, Phillips has two owners with significant control: Leonid Fridlyand and Leonid Strunin. Leonid Friedland and Leonid Strunin, owners of Mercury Group, Leonid Friedland (right) and Leonid Strunin (center) / Source: PhotoXpress. But some art watchers say thats not good enough. 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 . "Around 50 %" of the figure went to cover Phillips's liabilities. 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. Feeling responsible for the expenses incurred by the firm, Borodin asked Bhegjet Pacolli to pay for Skuratov. Phillips auction house has voiced its condemnation of Russias invasion of Ukraine. Born in 1969, Strunin is the Chairman of Mercury, the largest Russian luxury retailer, selling watches and clothes as well as cars. Mikhail Kusnirovich and Ekaterina Moiseeva, owners of Bosco di Ciliegi. 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. 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. Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. Some collectors are calling for a boycott of the Phillips auction on Thursday. Later a caf opened in the concept store. 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 . The company received the Saint-Petersburg project as far back as 2005, but has failed to meet the deadline. 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. One cannot imagine a list of world-famous Russians without top model model and mother of four Natalya Vodyanova. 2/18/2023 6:53 AM. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. Learn more about Luxury Goods. Leonid Strunin. An expert examination is scheduled to establish the suits` cost. 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. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. He is also the founder of TSUM Art Foundation. 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. TD TSUM owns and runs the oldest Moscow department store TSUM, located in the city center. 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. Send us a tip using our anonymous form. 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 . Contact. 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. 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. Borodin took Skuratov to the tailor to be measured, then he placed an order for 6 suits. Tax-back claims made against TSUM totalled $69 roubles. As the financial world unites to launch powerful sanctions against Putins oligarchs, the art auction season has begun in London as if nothing has changed. 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. 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. 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. 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. Since 2008, the auction house has belonged to Leonid Friedland and Leonid Strunin, the owners of Russian luxury group Mercury. Phillips, Sothebys and Christies are expected to generate more than $800 million in sales this week up 35% from last year. 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.. Click here to find out more. 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. 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. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. 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. 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. Leonid Strunin is a founder of the Mercury Group, which is a Russian company that owns the Phillips art auction house. As a subscriber, you have 10 gift articles to give each month. to return $6400 to Borodin, according to the receipt. Avsadzhanashvili is head of the family business that her parents established in 1988. 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. The World's Premier Art Magazine since 1913. Khatulya Avsadzhanashvili, general director of Babochka. 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. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin, are fashion's rising czars. 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. 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. All rights reserved by Rossiyskaya Gazeta. 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. 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. In that same vein, it is understood the owners are not the subject of any sanctions or affiliated with any parties targeted by sanctions. 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. The first stores are to be opened by 2011, the whole Village Project to be completed by the start of the Olympic Games. 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. Alexandra Gordienko, creator of the Marfa Journal. Yet Leonid Friedland is one of the most powerful men in fashion. 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.. On his request, some bank`s transaction receipt was given to him, which later he brought to Skuratov. Maezawa bought the painting atChristies New York in May 2016 for a then record $57.2m (including fees). Strunin was aware of that, because he has the right of disposal on the off-shore company Vetra Holding account, used as intermediary by said transaction. Copyright 2023 Promedia Digital Ltd. All Rights Reserved. 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. 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. 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. The World's Premier Art Magazine since 1913. More assertive action needs to be taken to try and stop what is going on in Ukraine. 9. 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. 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. In Russia she has been the face of various brands, from Rado to Carrera y Carrera. Mercury started investing into Expansion Redesign project of the DLT in 2005. Hasonlan nehz helyzetbe kerlt az orosz kzben lev brit aukcishz, a Phillips is orosz tulajdonosi httere miatt. Still, doing business with any powerful company based in Russia is outrageous, Andy Hall, a retired hedge funder, oil trader, art collector and philanthropist told The Post. 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. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. 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. You have entered an incorrect email address! 2023 Art Media, LLC. 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. 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. Skuratov himself decided how many suites he needed to purchase. Source: Kommersant-Online, 18 January 2012. In the Luxury Goods industry, Leonid Friedland has 3,377 colleagues in 246 companies located in 32 countries. 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. 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.. Aucun des deux actuels propritaires de Phillips ne figure sur les listes de sanction et si l'identit des . l***@mercury.ru. Can the art market simply ignore it and carry on as normal?, Russian banks have been virtually cut off from the world financial system when they were unplugged from the SWIFT payments apparatus. 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. Some people say they dont want to mix business and politics, but thats ridiculous, Hall said. Soon the brand closed and Volkova moved to Paris, where she started working as a stylist. Renata Litvinova, actress, director and creative director at the Numro Russia magazine. 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. I never bought a plane or a yacht. Send us a tip using our anonymous form. Mercury is run by Leonid Friedland and his associate, Leonid Strunin. Phillips has said it doesnt expect sanctions to affect its business. We want to hear from you! 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 . 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. The lucrative sales are typically popular with Russian collectors, and a number of the wealthiestincluding Putin allies Petr Aven, who recently . 2023 Art Media, LLC. Source: History of criminal case N 18/277049-99. But away from high-profile billionaire Russians, a chill wind of uncertainty is also being felt lower down the economic ladder by a much larger cohort of Russian art lovers in London, who used a now-axed golden visa scheme allowing wealthy foreign investors a fast track to live in the UK. In an interview with The 'Russian owned' Art Newspaper he suggested that it "will get the attention of the world and the owners . For his relationship with Borodin was damaged, Skuratov asked his deputy Kolmogorov V.V. cam newton meeting with panthers / nainital lake distance / nainital lake distance But Friedland discounts the idea that Russian clients are all about gold taps and flash taste. Inspectors found that TSUM had been using this strategy of social tax evasion since 2004. NEW YORKRussian luxury-goods company Mercury Group has acquired auction house Phillips de Pury & Company for an undisclosed price. The Berkeley Square headquarters of Phillips, which was acquired in 2008 by Russian luxury-goods company Mercury Group. Official website : TOP 4: Updating: Official website : TOP 5: Updating: Official website 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 Instagram post featured a blue and yellow abstraction by Ellsworth Kelly, the same colours of the Ukrainian flag. The Russian group has owned Phillips since 2008, when it acquired the company from Simon de Pury for an estimated $60 million. Mercury is also Russia's largest retailer of luxury watches. 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. According to the statement from Phillips, talks with Mercury Group began in July 2007 and continued for more than a year. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. Read More . Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. 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. All Rights Reserved. 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). There are other billionaires, however, who've avoided the clampdown. Tom Ford In February 2016 she worked on Sander Lak's debut with the brand Sies Marjan. Phillips also recently announced its exclusive representation of photographer Annie Leibovitz (see story below). 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