Since September 20, 2024, Maxim Basov, CEO of the Russian clothing manufacturer and retailer Gloria Jeans, has become a minority co-owner of 1% of the shares of VVM Investments LLC, which owns Gloria Jeans JSC and Gloria Jeans Corporation JSC. This was reported by Interfax.
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Another 99% of the company’s shares are held by the personal fund of the Chairman of the Board of Directors of Gloria Jeans Vladimir Melnikov, until July 2024, this legal entity was directly owned by him;
“The allocation of 1% of VVM Investments to the CEO of Gloria Jeans is part of the initial agreements, the terms of which are confidential. Their further implementation will depend on the company achieving ambitious goals,” Melnikov said.
Basov became CEO of Gloria Jeans in June 2024 and is a member of the company’s board of directors. The company designs, produces and sells clothing and accessories. The chain is represented by more than 600 stores in 300 cities.
Since the beginning of 2024, Gloria Jeans has received at least five certificates of compliance with the EAEU requirements for clothing from factories in Pakistan, where it has established serial production of assortments for children and teenagers. Vladimir Melnikov’s company followed in the footsteps of Zara and H&M, which are already actively sewing clothes in this country.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
