EP Business in Hospitality Issue 49 - April 2014

Fifteen years ago high-profile oligarchs and their families moved
to the UK to escape tax or retribution from the regime or business
rivals, but now London is becoming an increasingly popular choice
of relocation for many Russian millionaires. There are thought to be
300,000 Russians living in the UK, with London having earned the
title of ‘Londongrad’. Maddox St seems to be the Russian version
of Soho, as it is populated with Russian-owned boutiques, private
schools, jewellers, auction houses and flashy restaurants.
Russia is a country that
boasts the youngest
millionaires in the world,
with the average age of
46 compared with 55 for
a UK millionaire. These big spenders
are certainly contributing positively to
the economy – whether it is through the
revival of industries from yesteryear,
such as luxury yacht building, or the
launching of new industries and the
creation of jobs. Chauffeurs, bodyguards
and butlers have never been in more
demand. So what is the attraction?
According to the Nation Brand Index’s
survey of top 50 nations in the world,
“Russians have an increasingly positive
perception of the UK, especially when it
comes to heritage and culture, sport and
vibrant city life.”
In this feature, EP has interviewed
three Russians and a Russian-themed
business to understand what the
attraction of London is to them?
Yevgeny Chichvarkin, owner
and founder of the world famous
Hedonism Wines and Chief
Executive Tatiana Fokina
Hedonism Wines is a fine wine and
spirits boutique in the heart of Mayfair
and owner Yevgeny came to the UK in
2008. In Russia, he had co-founded the
largest mobile phone company, Evroset,
which had more than 5,000 branches
across Eastern Europe. Yevgeny sold
this and opened Hedonism in 2011.
In 2012 it was named Best Wine
Merchant by Decanter magazine, quite
an achievement for a boutique that
was only in its second year of trading.
Hedonism, which means pursuit of
pleasure, is proof that a successful, multimillion
pound business can be created
by getting the basics right. It is built on
core values of excellent customer service,
a great team and a strong belief.
So how did the concept come about?
After selling Evroset, Yevgeny was keen
to get involved in another venture and
at the same time he was frustrated with
the service and limited choice from
existing wine merchants when he was
after a particular vintage, thus Hedonism
was born. Yevgeny then hired his first
employee, Tatiana, in 2010. Tatiana was
new to setting up a business from scratch
and that’s where Yevgeny’s expertise
came into to play.
Although Hedonism was a completely
different experience to Evroset, as it
operated in a very different country and
catered for a very different audience, they
have proved that setting up a business in
the UK is fairly simple – all you need is
“common sense”.
“We have a good understanding of
what good customer service should be
and top level customer service is top
level, no matter where you go in the
world. People like and desire similar
things, they want to be taken care of
and appreciate when someone listens
to them, they want their time and custom
valued”. The pair then employed Alistair
Viner as Head Buyer and the man with all
the knowledge of wine. Alistair has been
working in the industry for 18 years and
previously held a position with Harrods.
Tatiana has been in the UK for
four years. She was attracted by
the culture, fashion, shopping and,
surprisingly, the climate. “There is
such a great mix of people in London,
it’s very diverse. It has so much to offer
and that’s the beauty of it. But there
are certain things that are better in
Russia, like the ballet. There is also the
confidence in doing business in the UK
without fear that the business will be
taken away from you.”
For the duo who originally knew
very little about wine, they have come
a long way. The pair appear to be an
unusual match, but one that share a
great chemistry and clearly work well
together. Tatiana is very focused, whereas
Yevgeny comes across as very lively.
What have been the biggest challenges
in the last three years? Yevgeny
comments that it has been finding the
right team that works well together, but
Tatiana is quick to disagree: “The biggest
challenge was trying to sign the lease for
Russian business
in London
42 | April 14 | EP