Gloria Jeans CEO Maxim Basov became an “investor”

Basov himself did not comment on his new status as an individual entrepreneur; He continues to work as director of Gloria Jeans.

The main activity of the new individual entrepreneur is the management of computer equipment. Additional activities include software development, database creation, data processing and IT consulting. Individual entrepreneurs will operate under a simplified tax system.

• Basov headed Gloria Jeans in June 2024 and in September received 1% of VVM Investments LLC, which owns Gloria Jeans. In September, Gloria Jeans established her own IT company, JJTech LLC.

Basov has been involved in the IT business for several years, owns shares in the online brain training service Vikium LLC, as well as Litnet LLC and Geomiragro LLC, whose activities are related to software development. He also owned 100% of the unprofitable IT company Kompanyony LLC, but in October Basov transferred it to Maxim Maksimovich Basov (the patronymic of the general director of Gloria Jeans is Dmitrievich).

As Maria Yakovleva, director of the Yakovlev and Partners legal group, explained, the registration of an individual entrepreneur by the general director does not affect his status in the company, but it is recommended to avoid a situation where the individual entrepreneur and the company simultaneously carry out the same activities, this is due to possible claims from the tax authorities.

“It is also important that activities as an individual entrepreneur do not contradict the employment contract or internal corporate rules, but in the case of the main beneficiary, I think it is obvious that there should not be a “conflict of interest,” explained the expert.

The managing partner of the Enso law firm, Alexey Golovchenko, believes that Basov has income from other activities that he will receive from this individual entrepreneur. It is possible that the CEO provides IT services to Gloria Jeans herself, the lawyer added.

“Perhaps this activity is related to providing services to Gloria Jeans for the management of computer equipment, or plans to provide services to other organizations. “You may be planning to leave the company and are preparing in advance for future activities, or perhaps you would like to create a software product and sell a license for the right to use this product to Gloria Jeans or other companies,” he said. the expert suggested.

The expert admitted that Basov could create, from his own intellectual property, various intellectual property objects (trademarks, various know-how, software products) and then sell licenses and franchises of his own intellectual property to other companies.

“This is a convenient model for receiving royalties without VAT and with minimal taxes,” said Alexey Golovchenko.