Gloria Jeans Founder Vladimir Melnikov Returns as Chief Executive After a Second Leadership Change in a Year

Summary: Gloria Jeans, one of Russia's largest clothing retailers, has changed its chief executive for the second time in a year: founder Vladimir Melnikov (Владимир Мельников), 77, again became general director of the network's main legal entities at the end of June 2025, replacing Alexander Tarasov (Александр Тарасов), who held the post for about six months.

The second change in a year

According to SPARK registry data reviewed by Kommersant, since the end of June 2025 Vladimir Melnikov has been general director of JSC Gloria Jeans and JSC Gloria Jeans Corporation, the main legal entities of the clothing chain. Before him, the post was held for half a year by Alexander Tarasov, who previously served as the company's executive director for finance. Whether Tarasov remains with the company is unknown; the Gloria Jeans press service and Tarasov himself did not respond to Kommersant's request.

The rotation has been rapid by any standard. Maxim Basov (Максим Басов), Tarasov's predecessor, also led the company for about half a year; Lilia Bulatova (Лилия Булатова) stayed longer, from the end of 2022 to June 2024. Over the past 15 years, Kommersant notes, Melnikov has occupied the general director's chair at least twice.

The company and its 2024 numbers

Gloria Jeans was created by Vladimir Melnikov in 1988 in Rostov Region. At the end of 2024 the network counted more than 700 stores across Russia, Belarus and Kazakhstan. The financial backdrop of the leadership change is a contracting year: according to SPARK, the combined revenue of the network's main entities fell 10% year on year in 2024, to 86.4 billion rubles, while net profit dropped 74%, to 1.8 billion rubles.

The production footprint in Rostov Region

The retail chain has also been shrinking its manufacturing base. At the end of 2024 Kommersant learned that the retailer was closing part of its production sites in Rostov Region; Melnikov explained the stoppage of sewing factories by their unprofitability. The investor for the former Gloria Jeans plants in Gukovo and Zverevo became the workwear producer Bulava LLC (ООО «Булава»), part of the Kalashnikov concern. In May 2025 the Rostov Region government said the company had decided to keep only two of its ten factories in the region, in Shakhty and Novoshakhtinsk, with the other eight handed to new investors, according to deputy governor Igor Sorokin (Игорь Сорокин). In spring 2025 the retailer also closed the stores of its teenage brand Ready! Steady! Go!, which had not operated for a year.

Why the founder returned

Two market sources told Kommersant that the frequent top-management changes are linked to the founder's dissatisfaction with the results shown by hired managers. In this company, only those who can adapt to its founder survive, one of the interlocutors explained. According to another source in the retail market, Melnikov intended to remove Tarasov from the general director's post as early as April 2025: the founder had hoped that Tarasov, as a financier, would be able to quickly stem the fall in revenue.

End of 2022 to June 2024 - Lilia Bulatova as general director.
June 2024 to the end of 2024, about half a year - Maxim Basov, arrested in March 2025 in the case against Rusagro's main shareholder Vadim Moshkovich (Вадим Мошкович).
First half of 2025, about half a year - Alexander Tarasov, formerly executive director for finance.
Since the end of June 2025 - founder Vladimir Melnikov again at the helm.

Melnikov's own attitude to hardship is a matter of public record: in a February 2017 interview to Vedomosti he said he had worked when the Soviet government put him in prison three times, and he had been comfortable.

What it means for the market

Despite the turbulence, Gloria Jeans remains one of the market's leaders, notes Alexei Vanchugov (Алексей Ванчугов), managing partner of Vanchugov and Partners (Ванчугов и партнеры), even though some of its startups turn out little successful. The company keeps trying new projects: judging by vacancies posted on hh.ru, it plans to open an office in Dubai.