This website uses cookies. 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. 7. 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.". In 2008, the company`s revenue amounted to 9, 832 billion roubles, sales proceeds totaled 95 million roubles. "People already had a great sense of taste and quality; it has always been there and how could luxury die?" 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. It has 35 jewellery and watch boutiques in Moscow, seven in St Petersburg and five in Sochi representing Rolex, Patek Philippe, Chopard, Hublot, Breguet, Girard-Perregaux, Tudor, Zenith, Bell & Ross, Breitling, Blancpain, De Bethune, Urwerk, DeWitt, Greubel Forsey, Ulysse Nardin, TAG Heuer, Gucci and Channel. Matthew Girling has also urged collectors to boycott Phillips. 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 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. owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. Leonid Friedland Owner of the Auction House Phillips Marina Abramovic Performance artist, founder of Marina Abramovi Institute Marina Loshak Director of the Pushkin State Museum of Fine Arts Nicolas Iljine Advisor to the General Director of the State Hermitage Museum, culture consultant Roman Trotsenko Entrepreneur, philanthropist, collector All my money goes into art, he said. 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. 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. This intermediary firm was charged with regular custom value underreporting. Renata Litvinova, actress, director and creative director at the Numro Russia magazine. Skuratov was very worried about the fact that his suits were paid by Mabetex, and he gave Borodin $10.000 pay-in, asking for the receipt. Read More . Dior and Saint Laurent: Twilight of the Gods. 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. 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. Because Phillips is privately held, the company does not provide detailed information on its ownership. The company representatives stated that the name Ecolux meant nothing to them, and they are not aware of any supplier with such name. ", https://www.nytimes.com/2003/03/03/news/rising-czars-of-russias-retail-luxury.html, Suzy Menkes, International Herald Tribune. 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. 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. The Instagram post featured a blue and yellow abstraction by Ellsworth Kelly, the same colours of the Ukrainian flag. 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. The company is involved in famous brand retail, mainly in St. Petersburg. 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. 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. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. Mercury has stated that the city government pushes them towards purchasing these commercial spaces on upcoming auction, scheduled on November, 3. Skuratov himself decided how many suites he needed to purchase. Phillips has said it doesnt expect sanctions to affect its business. 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. A post shared by Phillips (@phillipsauction). 3. 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. His greatest pride is his tank with piranhas. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. 2023 Art Media, LLC. Get our latest stories in the feed of your favorite networks. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russias largest luxury retail company. In Russia, besides modeling for Guerlain, Louis Vuitton, Marc Jacobs and other brands, Vodyanova is famous for her charity work. 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. Subscribe today and save! Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. Their visit to the luxury shops was related to the inspection of Ecolux, Mercury`s agent for international buying. 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. We call for an immediate cessation of all hostilities in the strongest possible terms, he said. 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. All Rights Reserved. says Reebok. Mercury carefully distanced from Ecolux`s troubles with customs. 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. 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. An expert examination is scheduled to establish the suits` cost. Source: Kommersant-Online, 18 January 2012. Az aukcis hzat a kt orosz zletember, Leonid Friedland s Leonid Strunin ltal alaptott Mercury Group vsrolta meg 2008-ban kzel 60 milli dollrrt. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners.. 100 years of fashion in Russia: 1915-2015>>>. 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. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. Email. In 2002 Time magazine placed its owners on the list of 25 most influential people in the world of fashion. 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. The holding company runs a chain of luxury stores across the country . But some art watchers say thats not good enough. 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. Subscribe today and save! Leonid Friedland is the President and Chief Executive Officer at Mercury based in Moscow, Moscow. 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. He is also the founder of TSUM Art Foundation. 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. Dzhabrailov came to the party escorted by the milicia security guards and two blondes. 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. Art markets are the perfect way to move money and not trace beneficial ownership, Louise Shelley, director of the Terrorism, Transnational Crime and Corruption Center at George Mason University told The Post. Previously, Leonid was the Board of Trustees Mem ber at The State Hermitage Museum. 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. Phillips auction house has voiced its condemnation of Russias invasion of Ukraine. He is not stingy at all and easily gives a discount to people whom he finds agreeable. 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 . Borodin took Skuratov to the tailor to be measured, then he placed an order for 6 suits. Leonid Friedland's Phone Number and Email Last Update. 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. 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 . 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. But there is one Western element that he does not yet see. In 2005, the duo also launched the Barvikha Luxury Village development. Update the org chart details of Leonid Friedland. 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 . In autumn and winter 1997, Skuratov received 14 suites. 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. 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. We want to hear from you! Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 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. Despite Phillips CEO condemning invasion of Ukraine, some argue that only a boycott will force owners to put pressure on Kremlin. The World's Premier Art Magazine since 1913. 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. The combination of Phillips's recent move uptown from its . Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. 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. Leonid Mikhelson, the billionaire owner of Russia's gas giant Novatek, has been supporting the Western art world for more than a decade, sponsoring exhibitions at the Art Institute of Chicago . More assertive action needs to be taken to try and stop what is going on in Ukraine. Olga Karput, creator of the Kuznetsky Most 20 concept store. 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. We call for an immediate cessation of all hostilities in the strongest possible terms.. (Ralph Lauren is still being vigorously courted). Phillips said earlier this week it does not 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.. Alexandra Gordienko, creator of the Marfa Journal. Br a szankcis listn egyikk sincs rajta, s a cg Instagramra kitett posztja alapjn . Leonid Strunin. 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. 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. How is it possible that in the decade since high school mathematics student Friedland and the computer designer Reebok first became friends, they have created a retail conglomerate in which the luxury menswear brand Brioni now does 10 percent of its business? After graduating from London's Central Saint Martins, Gordienko created the thick Marfa Journal, a magazine dedicated to her impressions of everything in the world from travels with friends across the U.S. and encounters with Erik Brunetti, creator of the FUCT clothing brand, to works by minimalist artist Donald Judd. All bets are off now. Over lunch in Milan, he and Alexander Reebok, Mercury's general manager, described their ambitious project to bring a purpose-built wood and steel luxury shopping village, with spa, restaurants and a hotel, to Zhukovka, an area where the dachas are a playground for the new super-rich. Today, there are calls for its boycott. From talking to Pacolli, he learned about the sum of approximately $30.000 paid for the suits. Or, as Gucci's Domenico de Sole puts it: "If you want to do business in Russia, they do an excellent job.". Kusnirovich and Moiseeva own another very large retailer Russias leading department store, GUM on Red Square. Some collectors are calling for a boycott of the Phillips auction on Thursday. The first stores are to be opened by 2011, the whole Village Project to be completed by the start of the Olympic Games. (The Mercury Group is a Russian luxury-goods business owned by Leonid Friedland and Leonid Strunin, otherwise known as "the Leonids".) After LVMH owner Bernard Arnault acquired a majority stake in 1999, the company made an unsuccessful attempt to compete with Sothebys and Christies, often through aggressive use of guarantees, which were not always recouped at auction. Mercury is run by Leonid Friedland and his associate, 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. Get our latest stories in the feed of your favorite networks. 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. Her Naked Heart Foundation builds children's playgrounds throughout Russia and creates support centers for handicapped children and their parents. (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). 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. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. All rights reserved. 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. Save my name, email, and website in this browser for the next time I comment. A Phillips statement said that its sales of contemporary art rose 80 percent between 2007 and 2008. Strunin has identified a suit, confiscated from Skuratov, stating confidently that it is in fact made by Ermeneglido Zegna. 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". All companies operating in the UK have to file accounts annually at Companies House with details of their finances and ownership. Yet Leonid Friedland is one of the most powerful men in fashion. We at Phillips unequivocally condemn the invasion of Ukraine. 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). NEW YORKRussian luxury-goods company Mercury Group has acquired auction house Phillips de Pury & Company for an undisclosed price. 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. Other than suggesting . But the list is changing fast. Click here to find out more. 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. Owned by Leonid Friedland and Leonid Strunin, Mercury Group is Russia's largest luxury retail company. Source: Komsomolskaya Pravda, 15 November, 2002. Previously, de Pury was the majority shareholder. 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. 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. We call for an immediate cessation of all hostilities in the strongest possible terms.. Phillips, Sothebys and Christies are expected to generate more than $800 million in sales this week up 35% from last year. The colleagues of Leonid Friedland. 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 Business of Fashion publication has published a list of the top 500 most influential people in the world of international fashion. By Elizabeth Howcroft. Even Exxon is pulling out of Russia which it didnt do when Russia invaded Crimea. The post quoted a message from Stephen Brooks, the auction house's chief executive: We at Phillips unequivocally condemn the invasion of Ukraine. 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. Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. Tax-back claims made against TSUM totalled $69 roubles. At Mercury Group, Leonid Friedland has 1 colleague. Friedland and Strunin also own the Mercury Retail Group, one of Russia's largest luxury goods retailers. 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. 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. 1,556 executive movements have been recorded in the last 12 months. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin, are fashion's rising czars. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. 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. Himself decided how many suites he needed to purchase Laurent: Twilight of the Olympic Games $ billion... 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