Get the week's best stories straight to your inbox. 2. 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. LONDON (Reuters) - Auction houses Christie's, Sotheby's and Bonhams have cancelled sales of Russian art in London in June, part of the art market's response to Western sanctions on Russia as punishment for its invasion of Ukraine. Official website : TOP 4: Updating: Official website : TOP 5: Updating: Official website 9. Other partners with a stake in the auction house include Phillips contemporary-art director Michael McGinnis and international specialist Michaela Neumeister. Despite it donating 5.8m to the Ukrainian Red Cross Society from a recent auction in London, and its CEO condemning the Russian invasion, those calling for the company to be shunned argue that only a boycott will force its Russian business figures such as its owners Leonid Friedland and Leonid Strunin to put pressure on the Kremlin. He is also the founder of TSUM Art Foundation. More assertive action needs to be taken to try and stop what is going on in Ukraine. The company posted a Ukrainian flag on its Instagram page. Leonid Strunin. "Stealth wealth is not working yet in Russia," Friedland says. On his request, some bank`s transaction receipt was given to him, which later he brought to Skuratov. 2023 Art Media, LLC. Learn more about Luxury Goods. The suites were paid for by the firm Mabetex. Az aukcis hzat a kt orosz zletember, Leonid Friedland s Leonid Strunin ltal alaptott Mercury Group vsrolta meg 2008-ban kzel 60 milli dollrrt. 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. 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. 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. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. Phillips, Sothebys and Christies are expected to generate more than $800 million in sales this week up 35% from last year. Still, Phillips said it doesn't fear financial hardship as a result of the war in Ukraine. Two influentialRussian 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. Feeling responsible for the expenses incurred by the firm, Borodin asked Bhegjet Pacolli to pay for Skuratov. 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. Find Leonid Friedland stock photos and editorial news pictures from Getty Images. Born in 1969. In February 1998, Borodin gave him a $6400 payment receipt and some foreign currency cash. 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. But there is one Western element that he does not yet see. 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. 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. TSUM was the main venue for the Second Moscow Biennale of Contemporary Art, and Barvikha Luxury Villagein a billionaire enclave just outside the citywas the venue for a Gagosian Gallery exhibition last October. Steven Cohen, a hedge-fund manager, agreed to consign it to Phillips in exchange for a third-party guarantee (also called an "irrevocable bid") rumoured to be from the house's principal owners, Leonid Friedland and Leonid Strunin (known in the art world as "the Leonids"). 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. UK freezes assets of seven Russian oligarchs including Roman Abramovich, Original reporting and incisive analysis, direct from the Guardian every morning. 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. Leonid Strunin. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. 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. Mercurys properties house boutiques for such fashion brands as Gucci, Prada and Giorgio Armani, as well as showrooms for Ferrari, Maserati and Bentley automobiles. 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. Br a szankcis listn egyikk sincs rajta, s a cg Instagramra kitett posztja alapjn . He is not stingy at all and easily gives a discount to people whom he finds agreeable. 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. Get our latest stories in the feed of your favorite networks. 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. Select from premium Leonid Friedland of the highest quality. 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. 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. "It is not as successful as showing it off. The Business of Fashion publication has published a list of the top 500 most influential people in the world of international fashion. Russia was the 17th largest market in the world for Swiss watches last year, receiving exports worth CHF 260 million with a retail value of over half a billion francs. 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. Here is how the art world responds to the conflict. 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. This sum only covers the period of 2006-2009, with TSUM using the simplified scheme in 2004-2007. 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. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. In a second Instagram post yesterday, the auctioneer announced that it will be donating 100% of the buyers premium and vendors commission from its recent 20th Century & Contemporary Art Evening Sale in London to the Ukrainian Red Cross Society. Owned by Leonid Friedland and Leonid Strunin, the Moscow-based Mercury Group is the largest luxury retailer in Russia. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. 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. Borodin took Skuratov to the tailor to be measured, then he placed an order for 6 suits. 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. However, Mercury ategorically denied any possibility of such a deal. For instance, a men`s Zegna wool costume was declared as worth $100, but in Moscow its sale price soared over $3,000. Other groups and brands, including LVMH, Richemont and Richard Mille have not replied. You have entered an incorrect email address! 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? ARTnews is a part of Penske Media Corporation. 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 They provided the donation but its really not back to business as usual, and I think buyers and consignors should take their business elsewhere. That amounts to Borisenko monthly wage of $50.000. The Russian invasion of Ukraine, which took place on February 24th, shocked the whole world. 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. At Mercury Group, Leonid Friedland has 1 colleague. 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. 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. 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. 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 . Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners. 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. According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. 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. Rolex, Audemars Piguet and Patek Philippe said they would not comment when asked by WATCHPRO about their position on Russian invasion of Ukraine. Source: Komsomolskaya Pravda, 15 November, 2002. Other than suggesting . Soon the brand closed and Volkova moved to Paris, where she started working as a stylist. The holding company runs a chain of luxury stores across the country,. Mercury Group was established in 1994 by Friedland and Leonid Strunin, who are known to be its principal owners.. Today she does shows for Vetements, Balenciaga and her friend Gosha Rubchinsky. (Abramovich said Wednesday that hed sell the Chelsea soccer team in the UK.). In 2006-2007, the TSUM (principal owner is the luxury retailer Mercury) signed contracts with 24 staffing agencies, all of them using a simplified taxation scheme. As president and CEO of Mercury, the largest luxury retail group in Russia, Friedland and his associate, Leonid Strunin, are fashion's rising czars. 3. 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. Some people say they dont want to mix business and politics, but thats ridiculous, Hall said. 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. The Instagram post featured a blue and yellow abstraction by Ellsworth Kelly, the same colours of the Ukrainian flag. 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). Phillips also recently announced its exclusive representation of photographer Annie Leibovitz (see story below). 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. Hailed as the czars of Russian retail, the business duo brought brands like Gucci and Brioni to their native country. Alexandra Gordienko, creator of the Marfa Journal. Although Friedland does not give figures, sources in Moscow suggest that Mercury's annual turnover is $300 million outstripping its competitors in the luxury field. Can the art market simply ignore it and carry on as normal?. 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. Contemporary art star Anish Kapoor considers "Phillips as legitimate a target as the Chelsea football club", formerly owned by Roman Abramovitch. The company is involved in famous brand retail, mainly in St. Petersburg. 2023 The Business of Fashion. 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