By Suzy Menkes, International Herald Tribune. Phillips auction house has voiced its condemnation of Russias invasion of Ukraine. 9. We want to hear from you! The historic building, near the Bolshoi, will be refurbished to its former grandeur, enlarged with a new development at the back, and become a palace of brands. Its controlled shareholder is the Leonid Friedland and Leonid Strunin`s Mercury Group. During their search of Skuratov`s apartment and dacha, the investigators confiscated 14 male suites, made by Ermeneglido Zegna on 19 and 20 May 1998. In 2002 Time magazine placed its owners on the list of 25 most influential people in the world of fashion. Friedland is said to look like Pierre Bezukhov, except that Pierre Bezukhov was not a diamond trader, and Friedland is the CEO of Mercury, the company selling luxury watch brands and jewelry in Russia. Mercury started investing into Expansion Redesign project of the DLT in 2005. 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. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. couscous salad with raisins and almonds. 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. The company received the Saint-Petersburg project as far back as 2005, but has failed to meet the deadline. 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. 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. 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. Both are Russian with their address given as Phillips London headquarters in Mayfair and their countries of residence recorded as Monaco and Cyprus, respectively. 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. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. For more information read our Terms & Conditions and Privacy Policy. Mercury has stated that the city government pushes them towards purchasing these commercial spaces on upcoming auction, scheduled on November, 3. On his request, some bank`s transaction receipt was given to him, which later he brought to Skuratov. The watch firm Lange and Peter Avens investment firm have been approached for comment. 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 main elements of her image are elegance in black tones, a wavy 1940s-style haircut and bright red lipstick. It is also the worlds largest unregulated market and it has become a powerful weapon for Putins oligarchs to launder billions of dollars. There are other billionaires, however, who've avoided the clampdown. 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. 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. On 8.5 acres of green lawns, they include open air sculptures such as Henry Moores Reclining Figure, bought for 19m, Lynn Chadwicks Sitting Couple, a Louise Bourgeois spider sculpture, and a specially commissioned Antony Gormley. Born in 1969. We want to hear from you! 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 Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. 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. Subscribe today and save! 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. Mikhail Kusnirovich and Ekaterina Moiseeva, owners of Bosco di Ciliegi. The U.K. announced sanctions targeting five banks and high net worth Russian oligarchs in Vladimir Putins close circle. In January 1998, the Swiss attorney general Carla Del Ponte informed Scuratov about Behgjet Pacolli`s testimony that Mabetex had paid for tailoring. As the financial world unites to launch powerful sanctions against Putins oligarchs, the art auction season has begun in London as if nothing has changed. 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. Arnault sold his majority stake in 2002. ARTnews > Sites in Beirut, Benghazi and Brownsville, Texas, make a most-endangered list I never bought a plane or a yacht. Other than suggesting . At the time of the major private deal, Russia had recently emerged as a key art market player. Friedland denied that, and Sberbank refused to comment on the situation, referring to trade secrets. The company should have built a mall and a parking lot on the site of the department store by September 2011, but it exceeded the alotted time. 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. 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. 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. The first stores are to be opened by 2011, the whole Village Project to be completed by the start of the Olympic Games. Aucun des deux actuels propritaires de Phillips ne figure sur les listes de sanction et si l'identit des . 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. 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. Even Exxon is pulling out of Russia which it didnt do when Russia invaded Crimea. In 2001 they established BoscoSport, which dressed the IOC officials at the Olympics in Rio. 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 Mercury Group is a Russian luxury-goods business owned by Leonid Friedland and Leonid Strunin, otherwise known as "the Leonids".) Their visit to the luxury shops was related to the inspection of Ecolux, Mercury`s agent for international buying. 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 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). Everybody knows about a $40 million buyer`s loan received from Sberbank, when Mercury purchased a building complex in Tretyakovsky proyezd. Since 2008, the auction house has belonged to Leonid Friedland and Leonid Strunin, the owners of Russian luxury group Mercury. to return $6400 to Borodin, according to the receipt. 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. Leonid Strunin. It has stood alongside Chelsea as one of the jewels in the crown of Russian investments in Londongrad. 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. Click here to find out more. owner of investment firm Volga Group who has a track record of working to promote Russian heritage abroad through arts and cultural initiatives. 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. 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. The combination of Phillips's recent move uptown from its . 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. Avsadzhanashvili is head of the family business that her parents established in 1988. 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. Construction and infrastructure magnates, Boris and Igor Rotenberg, who were investigated for circumventing sanctions to buy art in 2020, have also been targeted. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. 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. 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. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners.. The Business of Fashion publication has published a list of the top 500 most influential people in the world of international fashion. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. Br a szankcis listn egyikk sincs rajta, s a cg Instagramra kitett posztja alapjn . Dzhabrailov came to the party escorted by the milicia security guards and two blondes. All bets are off now. 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. De Pury, however, is completely sanguine about the two Leonids' attitude. We call for an immediate cessation of all hostilities in the strongest possible terms.. 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. This website uses cookies. Inspectors found that TSUM had been using this strategy of social tax evasion since 2004. 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. 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". 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. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. Contact. UK freezes assets of seven Russian oligarchs including Roman Abramovich, Original reporting and incisive analysis, direct from the Guardian every morning. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. The company, Russia's largest luxury goods retailer, was set up in 1993. But like real estate, the art market has received temporary exemptions from anti-money laundering regulations in the US for the past two decades. Mercury carefully distanced from Ecolux`s troubles with customs. 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 . A Phillips statement said that its sales of contemporary art rose 80 percent between 2007 and 2008. Dior and Saint Laurent: Twilight of the Gods. Find Leonid Friedland stock photos and editorial news pictures from Getty Images. "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. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. Because Phillips is privately held, the company does not provide detailed information on its ownership. 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. All my money goes into art, he said. His greatest pride is his tank with piranhas. We call for an immediate cessation of all hostilities in the strongest possible terms.. In Friedland's analogy, it is "the East Hampton of Moscow" where 70 percent of customers who live there are top gear people." Leadership Insights for the 21st Century 100 years of fashion in Russia: 1915-2015>>>. All Rights Reserved. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. 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? 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. 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. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. But there is one Western element that he does not yet see. 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. 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. 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. 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. 5. 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 post shared by Phillips (@phillipsauction). Read More . bombing of a Ukrainian maternity hospital. They are owned by the luxury brands company Mercury Group, headed by two Russian owners, Leonid Friedland and Leonid Strunin. Still, Phillips said it doesnt fear financial hardship as a result of the war in Ukraine. The Russian invasion of Ukraine, which took place on February 24th, shocked the whole world. 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. Girling, the former Bonhams CEO, said that only a boycott would get the attention of the owners of Mercury to hopefully influence Putin to change his current chosen course of action., We have seen how the world of banking, travel, leisure, sport and culture have responded to the crisis, he told The Art Newspaper. Or, as Gucci's Domenico de Sole puts it: "If you want to do business in Russia, they do an excellent job.". With reported annual revenues of more than $8 billion, the company operates high-end department stores and shopping centers, including the prestigious TsUM . Anyone can read what you share. Set in grounds of over 80,000 square metres complete with hotels, spas and a concert hall, the village also boasts a dedicated shopping street lined with brands such as According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. Phillips CEO Stephen Brooks posted on social media that the auction house unequivocally condemn[s] the invasion of Ukraine. 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. All rights reserved. Mercury is also Russias largest retailer of luxury watches. The holding company runs a chain of luxury stores across the country . Copyright 2023 Promedia Digital Ltd. All Rights Reserved. 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. Some people say they dont want to mix business and politics, but thats ridiculous, Hall said. Borodin took Skuratov to the tailor to be measured, then he placed an order for 6 suits. But he could not clear up whether Skuratov`s suits were ordered through the Russian Art shop. 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. Today, there are calls for its boycott. 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. The World's Premier Art Magazine since 1913. All rights reserved by Rossiyskaya Gazeta. According to the statement from Phillips, talks with Mercury Group began in July 2007 and continued for more than a year. 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. 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. I would not like to be the auctioneer this week, one lead auctioneer told the paper. His face expresses ultimate self-sufficiency. . 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. The company is involved in famous brand retail, mainly in St. Petersburg. Kusnirovich and Moiseeva own another very large retailer Russias leading department store, GUM on Red Square. Hasonlan nehz helyzetbe kerlt az orosz kzben lev brit aukcishz, a Phillips is orosz tulajdonosi httere miatt. 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. 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