The VkusVilla founder’s fund acquired 25% of the Poison Drop jewelry chain – Kommersant
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The TealTech Capital venture fund has become the owner of 25% of the Poison Drop chain of jewelry stores. About it Forbes Poison Drop CEO Andrei Migunov and TilTech Capital investment manager Stanislav Novikov reported. The deal was concluded with the co-founder of the jewelry chain, Irina Kuznetsova.
Messrs. Migunov and Novikov refused to name the amount of the transaction for the acquisition of Poison Drop’s share. Forbes sources familiar with the terms of the deal claim that TealTech Capital paid about 300 million rubles for 25% of Poison Drop.
According to Stanislav Novikov, over the next three to five years, TealTech Capital plans to increase the value of Poison Drop tenfold. Based on the results of 2023, the fund may decide to invest in the company: either from its own funds, or through issuing bonds or attracting new investors.
TealTech Capital was founded in 2017 by the owner of VkusVilla Andrei Krivenko, the chairman of the board of directors of Agama Group of Companies Yuri Alasheev and the head of Khimrar Andrei Ivashchenko. According to Stanislav Novikov, TealTech Capital began to show interest in the costume jewelry market a long time ago, but began to carefully study it in 2022 against the background of the departure of international brands from Russia.
The Poison Drop network was founded by Andrey Migunov, Irina Kuznetsova, Ruslan Trubchik and Irina Mysina in 2013. Initially, the network developed as an online store, and in 2018, Poison Drop began opening offline outlets. The company is now represented by ten facilities in Moscow, St. Petersburg, Krasnodar and Kazan. According to Poison Drop, the network’s turnover at the end of 2022 amounted to about 1 billion rubles. At the end of 2022, it entered the international market by opening its headquarters and store in Dubai.
Read more in the Kommersant article. “Caravan-Dubai”.
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