Poison Drop

Poison Drop is an online service for the sale of designer jewelry in Russia. The company also develops a network of offline stores (by October 2022 there are 8 of them, they are located in Moscow, St. Petersburg, Krasnodar and Kazan). The company offers products of more than 125 brands, more than half of which are Russian. The project was created in 2013 by Ruslan Trubchik and Andrei Migunov.

Performance indicators

2021: Revenue growth by 40% to RUB 217.7 mln

The revenue of Poyzon Drop LLC in 2021 amounted to 217.7 million rubles against 140 million rubles in 2020, net profit - 30.2 million rubles (in 2020 - 8.2 million rubles).

History

2023: TilTech Capital Fund buys 25% Poison Drop

The Tiltech Capital Foundation (among its co-owners, the founder of the Vkusville chain, Andrei Krivenko) invested in Poison Drop, buying 25% of the jewelry store chain from one of its founders. This became known on November 7, 2023.

Poison Drop CEO Andrei Migunov and TilTech Capital investment manager Stanislav Novikov told Forbes magazine about the deal. They did not disclose the financial terms of the agreement. According to sources of the publication, TilTech Capital paid about 300 million rubles for 25% of Poison Drop. Mikhail Burmistrov, CEO of INFOLine Analytics, called this amount "quite adequate to the company's business today."

TealTech Fund Invested in Poison Drop

According to Stanislav Novikov, over the next three to five years, TilTech Capital plans to increase the cost of Poison Drop tenfold. By the end of 2023, the fund can decide on investments in the company: either at its own expense, or through the issue of bonds or attracting new investors.

Poison Drop was originally created as an online retailer. By November 2023, the network is managed by 10 facilities in, To Moscow,, and St. Petersburg. Krasnodar Kazan In addition, Poison Drop recently began selling jewelry in Dubai, and plans to open an offline store there by the end of 2023. By November 7, 2023, 150 brands (86 domestic, 47 international and 17 own brands) are presented on the Poison Drop website and stores, Forbes points out.

Stanislav Novikov noted that the fund had long been interested in the market for jewelry and jewelry, but began to carefully study it from 2022, when large international brands left Russia.^[1]

2022: Renaissance Group top manager buys 25% Poison Drop

In October 2022, Maxim Penkin, a former top manager of Invest AG and Renaissance Groups, invested in Poison Drop. The financial terms of the transaction were not disclosed. It is only known that the businessman acquired 25% of the project.

The general director of Infoline Analytics, Mikhail Burmistrov, suggested that in the current economic situation, by October 2022, the cost of the service did not exceed $3 million, so the businessman could spend $1.5-2 million on the purchase of 25%, taking into account the premium for profitability.

Top manager of Renaissance Group bought 25% of Poison Drop service

Thanks to the attraction of investments, Poison Drop plans to actively develop in Russia: launch new offline stores and increase the range in the jewelry segment.

The company also plans to develop in the Gulf countries - Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain. Poison Drop CEO Migunov added in mid-October 2022 that the service has opened an office in Dubai and expects to open its first boutique abroad within 1.5 years.

Maxim Penkin has previously invested in startups. So, he participated in the development of services "A lot of salmon" (now it is owned by X5 Group), "Cleaner" (utilizes recyclable materials), "Console" (a platform for managing freelance employees), "Cube" (creates reusable modular structures for festivals).^[2]

Notes