Gulnara Kerimova could invest in the launch of the Nrav cosmetics brand
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The withdrawal of foreign manufacturers of decorative cosmetics from the market has aroused interest in the segment of Russian investors. Suleiman Kerimov’s daughter Gulnara could invest in the launch of the Nrav brand. The market assumes that the brand will begin to operate in the mass segment, initially entering marketplaces. Over two years, the share of local brands in the cosmetics market has grown to 30%, although previously it barely reached 15%.
Gulnara Kerimova received 100% of Muminat Khanbalaeva’s share in Shemesh LLC as collateral, as follows from the Unified State Register of Legal Entities. This company, as follows from HeadHunter data, is developing the Nrav brand of decorative cosmetics created in 2023. This trademark has been registered by Shemesh LLC since December 2023. The company did not answer Kommersant’s questions. It was not possible to contact Ms. Kerimova herself.
Interfax and Bloomberg previously called Gulnara Kerimova the daughter of businessman and ex-senator Suleiman Kerimov. In 2022, she was the subject of an investigation by French authorities after her structures purchased four villas on Cape Antibes. In Russia, it owns several little-known legal entities, including Bastion in Dagestan, Alea Estate and Hockton Estate in Moscow.
Partner at Rustam Kurmaev and Partners Dmitry Kletochkin explains that Gulnara Kerimova’s receipt of the founder’s share in Shemesh LLC as collateral may indicate that the lender has allocated funds for business development. Senior lawyer at Melling, Voitishkin and Partners Kirill Manshin says that this is a common practice, although not the only possible scenario. “Collateral can be provided for the obligations of third parties not related to the business,” the expert notes.
Executive Director of the Association of Manufacturers of Perfumery, Cosmetics, Household Chemicals and Hygiene Products Petr Bobrovsky explains that the cost of launching a brand can be tens of millions of rubles if we are talking about contract manufacturing. Launching your own production, according to the expert, will cost hundreds of millions of rubles, since “few necessary raw materials and molds are produced in Russia, and good technologists are not easy to find.” Mr. Bobrovsky notes that the least saturated market is now in the luxury segment, but it is difficult to enter there.
General Director of Infoline-Analytics Mikhail Burmistrov considers it unlikely for a new brand of decorative cosmetics to launch offline. He assumes that product sales will first begin on marketplaces. This will allow you to receive feedback from consumers, create a sales history and a loyal audience, explains the expert.
Mikhail Vasiliev, head of research and consulting at Focus Technologies, recalls that in 2022, the traffic of perfume and cosmetics stores in Moscow shopping centers decreased by 10–15% after the departure of international brands from Russia. But now the situation, according to him, is improving: in January-March, the number of customers in comparable stores remained at last year’s level, the average check and turnover increased by 4%. The expert calls the week of March 8 “shock”; traffic year-on-year during this period increased by 13%, the average check by 8%, and turnover by 22%. “Taking into account the gradual increase in competition among specialized retailers, we can talk about the presence of prerequisites for a gradual recovery in demand,” says Mr. Vasiliev.
At the same time, the offer is often expanded to include local brands. Mr. Bobrovsky believes that Russian brands now form about 30% of the range of decorative cosmetics; before 2022, the figure was much lower – about 15%. “With the departure of some familiar brands, consumers began to more actively try new products, but competition between them has also increased,” says the expert. The owner of the Kaufman brand agency, Stanislav Kaufman, notes that Russian cosmetic brands still cause wariness among buyers, but due to the presence of high-quality products in the segment, loyalty to them is noticeably growing.
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