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Biography
1970-1990s
According to Forbes, Vladimir Melnikov began doing business in the 1970s in underground sewing workshops. In 1989, he was convicted of trying to take dollars out of the country to purchase equipment from the United States for the Gloria Jeans sewing cooperative a year earlier. In total, Melnikov spent 10 years in prison.
In 1995, the entrepreneur acquired a controlling stake in a garment factory in Novoshakhtinsk.
2000-2023
By the late 2000s, Melnikov was focusing on developing his own chain of stores. In 2006, the entrepreneur began to transfer part of the shares of Gloria Jeans as a reward to the company's top management.
Initially, Gloria Jeans was involved in tailoring for third-party brands, including making jeans for Levi's. By the late 2000s, Melnikov was focusing on developing his own chain of stores.
In 2003, Melnikov created a charitable foundation named after the Holy Great Martyr Anastasia Uzoreshitelnitsa, which provides assistance to people in difficult life situations. In 2023, Gloria Jeans Corporation transferred 319 million rubles to the fund.
2024
Fortune - $1.7 billion
In early April 2024, Vladimir Melnikov became a dollar billionaire. Forbes magazine estimated the fortune of the CEO and founder of the Gloria Jeans clothing chain at $1.7 billion.
By the beginning of 2024, Vladimir Melnikov, through VVM Investments, owned 99.9% each in two legal entities registered in the Rostov Region: Gloria Jeans JSC and Gloria Jeans Corporation JSC. The businessman also owns several trademarks including Gloria Jeans, Gee Jay and Ready! Steady! Go! By the beginning of 2024, the Gloria Jeans chain has more than 700 stores in Russia, Belarus and Kazakhstan.[1]
Transfer of Gloria Jeans assets to personal fund
VVM Investments, which owns the Rostov clothing retailer Gloria Jeans JSC and Gloria Jeans Corporation JSC, became the property of the St. Great Martyr Anastasia Uzoreshitelnitsa Foundation. The fund is owned by the founder and chairman of the board of directors of Gloria Jeans, Vladimir Melnikov. Read more here.
Notes
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