Vkusvill founder Andrey Krivenko’s fund invested in clothes retailer Noun

The Russian brand and manufacturer of women’s clothing Noun raised a total of 290 million rubles. from the investment fund “Tiltech Capital”. A representative of the latter told Vedomosti about this. Noun CEO Semyon Pimenov confirmed this information. A representative of Tiltech Capital says that the funds are planned to be used to launch a franchise to enter remote regions of Russia, open a warehouse, an office in Moscow and new own stores.

Noun was founded by Pimenov in 2018 (at first he worked under the Dorogobogato brand). In 2021, the revenue of Modnaya Retail LLC, the trademark management company, amounted to 194 million rubles, and net profit – 4.7 million rubles. Now, according to Pimenov, the network includes about 15 outlets in Moscow and the regions. Next year, the company intends to triple the number of stores, and in 2024 to bring their number to about a hundred. In particular, next spring she plans to launch 10 new points in Moscow, St. Petersburg, Rostov-on-Don, Pyatigorsk and Taganrog, the businessman says. Also, the company, according to him, is negotiating the opening of facilities in Perm, Yekaterinburg, Kursk, Orenburg, Nizhny Novgorod and the Crimea. The launch of the first franchise stores is scheduled for spring 2023. Pimenov added that in order to implement its plans, the retailer has already rented a warehouse in Domodedovo, expanded the list of partners and began to strengthen the management team.