Noun (clothing chain)

History

2024: Tyltech Capital Co-Founder Foundation becomes sole owner of Noun network

The TilTech Capital venture fund, founded by billionaire Andrei Krivenko and his partners, has acquired 100% of the Noun women's clothing chain. The deal to acquire a 54.5% stake in the founder of the brand, Semyon Pimenov, was completed on July 9, 2024, which allowed the fund to become the sole owner of Fashion Retail LLC, which manages the production and chain of Noun stores.

According to Forbes, a representative of TilTech Capital confirmed the transaction, noting that the Noun brand will continue its activities under the leadership of the new management team. Kirill Dudnikov, investment director of the fund, who previously oversaw the introduction of new management methods in the company, has been appointed to the post of head.

Freepik

Semyon Pimenov, founder of Noun, in an interview with reporters announced a corporate conflict that caused his share to be transferred to the fund. According to Pimenov, TilTech Capital suddenly stopped investing in the development of the retailer, which brought the company to the brink of bankruptcy by mid-2024. The entrepreneur claims that he was forced to leave the company without compensation, after which investments in Noun resumed.

The history of the Noun brand began in 2016, when Pimenov created it on the basis of his previous project. The company specializes in the production of women's clothing in small batches and its sale through its own chain of stores, numbering 17 outlets in 16 cities of Russia.

In December 2022, TilTech Capital invested ₽200 million in Noun, which was the third round of investments from the fund. The total amount of investments reached ₽290 million. It was planned to allocate funds to expand the range and open up to 30 new stores of increased format.

TilTech Capital, founded in 2017, is known for its investments in various projects, including medical clinics, delivery services and jewelry chains.^[1]

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