Mysterious Tomb Unearthed in Armenia, Containing a Couple Who DiedTogether. According to a report in the Russian newspaper Kommersant, the groups 2006 turnover was estimated at $850 million. Matthew Girling, chief executive of Bonhams until 2020, told The Art Newspaperhe believes people should still boycott Phillips over its Russian links. 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. 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 . For instance, a men`s Zegna wool costume was declared as worth $100, but in Moscow its sale price soared over $3,000. couscous salad with raisins and almonds. Will art buyers show solidarity with Ukraine or will the art world display its usual hypocrisy?. Mercury reputedly paid around US$60 million to acquire a majority share, although the actual transaction was private. 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. At the time of the major private deal, Russia had recently emerged as a key art market player. Friedland and Strunin also own the Mercury Retail Group, one of the largest luxury goods retailers in Russia. In 2002 Time magazine placed its owners on the list of 25 most influential people in the world of fashion. 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. In that same vein, it is understood the owners are not the subject of any sanctions or affiliated with any parties targeted by sanctions. De Pury, however, is completely sanguine about the two Leonids' attitude. 3. 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. 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. 2/18/2023 6:53 AM. ARTnews is a part of Penske Media Corporation. Today she continues to publish the magazine and also works as creative consultant for clients such as Kanye West. 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. 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. That amounts to Borisenko monthly wage of $50.000. More assertive action needs to be taken to try and stop what is going on in Ukraine. Phillips said earlier this week it does not expect sanctions to affect its business. 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. Born in 1969. I am glad he [Stephen Brooks] has said this but at the end of the day it is just words. 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 has stated that the city government pushes them towards purchasing these commercial spaces on upcoming auction, scheduled on November, 3. It was founded in 1993 by Russian entrepreneurs Leonid Fridlyand and Leonid Strunin, who are reportedly close to Putin. 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. u thng ny, Matthew Girling, cu Gim c iu hnh ca Bonhams, ni vi Art Newspaper rng mi ngi nn ty chay Phillips, cng ty thuc s hu ca ngi Nga Leonid Friedland v Leonid Strunin. 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. 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. However, none of its competitors believe it. 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. 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. 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. ARTnews is a part of Penske Media Corporation. The company is involved in famous brand retail, mainly in St. Petersburg. Email. Enter your email to join the thousands of other professionals receiving breaking news from WATCHPRO. The company representatives stated that the name Ecolux meant nothing to them, and they are not aware of any supplier with such name. The secret of the site's success is its combination of large image spreads with short, carefree news pieces about fashion, beauty, culture and society gossip. 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 World's Premier Art Magazine since 1913. Official website : TOP 4: Updating: Official website : TOP 5: Updating: Official website At Mercury Group, Leonid Friedland has 1 colleague. 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.. Get the week's best stories straight to your inbox. "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. Phillips, Sothebys and Christies are expected to generate more than $800 million in sales this week up 35% from last year. 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. Renata Litvinova, actress, director and creative director at the Numro Russia magazine. Karput established her avant-garde, street brand store in 2009, using the famous Colette in Paris as a model. Because Phillips is privately held, the company does not provide detailed information on its ownership. 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 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. 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.". Its upsetting because its a step towards changing the culture, too. The Russian group has owned Phillips since 2008, when it acquired the company from Simon de Pury for an estimated $60 million. We have seen how the world of banking, travel, leisure, sport and culture have responded to the crisis. 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. 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. Leonid Strunin. 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. Some buy art but many others go to exhibitions or become patrons and its maybe higher than your normal new London intake and they use it to get acquainted culturally here.. 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. Contact. The top three are Roman Abramovich, Alisher Usmanov and Leonid Mikhelson, together worth $58.3 billion. Leonid Strunin. Leonid Friedland and Leonid Strunin, owners of Mercury Group, Leonid Friedland (right) and Leonid Strunin (center) / Source: PhotoXpress. We call for an immediate cessation of all hostilities in the strongest possible terms, he said. 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 . Head of the Property Department Vladimir Silkin claimed that TD TSUM gains illegal profits from sales on city territory. But some art watchers say thats not good enough. Litvinova is often called the "Marlene Dietrich of today" and the "Russian icon of style." Source: History of criminal case N 18/277049-99. In the Luxury Goods industry, Leonid Friedland has 3,377 colleagues in 246 companies located in 32 countries. The holding company runs a chain of luxury stores across the country . As evidence in support of his words, Borodin brought the Mabetex invoice dated 14 July 1998, in the name of Skuratov, for tailoring suites, shirts and neckties worth $39675 total. . "Stealth wealth is not working yet in Russia," Friedland says. His greatest pride is his tank with piranhas. ARTnews > Sites in Beirut, Benghazi and Brownsville, Texas, make a most-endangered list 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. 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.. Friedland and Strunin also own the Mercury Retail Group, one of Russia's largest luxury goods retailers. Send us a tip using our anonymous form. In 2005, the duo also launched the Barvikha Luxury Village development. 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. 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 combination of Phillips's recent move uptown from its . All my money goes into art, he said. Tom Ford 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. 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. 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. 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