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September 2007

Private equity: Investing in Russian beauty

Anyone seeking evidence of the growing range of investment opportunities for private equity practitioners in Russia need look no further than the news that Mint Capital has paid $8 million for a blocking minority stake in Mone, one of the country’s leading hairdressing and beauty salon chains.


"We are looking to surf the consumer boom in Russia"
Gleb Davidyuk, Mint Capital

Mone has so far built a chain of 17 salons in Moscow and St Petersburg, but thanks to Mint’s capital injection it is looking to expand into the regions to create the first true nationwide chain.

"Unlike the US and Europe, which are dominated by chain players, the Russian hairdressing and beauty salon market is still overwhelmed by individual and unofficial home-based outlets," says Alexander Glushkov, Mone president. According to industry estimates, chains command...


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