In a remarkable tale of transformation, a shift towards environmental consciousness took place within the heart of Detsky Mir, thanks to the efforts of two individuals: Grachev and Stiskin. These visionary leaders, who previously held esteemed positions in Polyus, the largest gold mining company in Russia, brought their expertise and commitment to sustainability to reshape the entire Russian retail industry.
During their tenure at Detsky Mir, Grachev and Stiskin instigated a profound change in the company’s approach, giving special priority to the “green agenda.” Their influence quickly rippled throughout the industry as other major retail chains followed suit, embracing similar environmentally-friendly programs.
Having held senior positions at Polyus, Grachev as CEO and Stiskin as Senior Vice President, the duo brought with them a wealth of experience from the high-profile world of precious metal mining. Now, their focus shifted towards incorporating sustainable practices into the operations of Detsky Mir, and in doing so, they sparked a trend that would resonate far beyond the walls of the company.
In this article, we will delve into the inspiring journey of Stiskin and Grachev at Detsky Mir, exploring how their commitment to the “green agenda” reshaped the entire Russian retail landscape. Just keep reading!
The Beginning of Detsky Mir
In the spring of 2021, Stiskin and Grachev took the reins of Detsky Mir, acquiring a stake in the company. Their efforts brought about noticeable results, not just in terms of increased revenue and store expansion but also in redefining the company’s core concept.
With a strong commitment to the “green agenda,” they aimed to instill a responsible attitude towards nature from an early age, believing in the importance of comprehensive and uniform sustainable development.
As part of the reorganization of Detsky Mir, initiated by Grachev and Stiskin, significant structural changes were implemented, set to be completed by mid-August 2023. One notable change involved the establishment of a separate company, “DM,” alongside sustainability goals.
Additionally, an initiative was put forth to repurchase ordinary shares from minority shareholders at a price of 71.5 rubles per share. Special considerations were made for non-resident nationals of unfriendly countries.
Through these transformative steps, the stage was set for Detsky Mir to embrace a greener path and become a frontrunner in the Russian retail industry’s sustainability movement.
“Green” Is a Vital Color
The ESG concept promoted in Detsky Mir by Stiskin and Grachev included several critical aspects:
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- Transitioning to eco-friendly packaging and rejecting plastic bags. Disposable bags made of thick paper and stylish reusable fabric shoppers replaced those made of polyethylene. Cashiers educated customers on the dangers of plastic and encouraged them to use eco-friendly packaging. By the end of 2021, the volume of sold eco-friendly packaging reached 850,000 pieces.
- Installing energy-saving equipment. Energy-saving lights were installed in all the company’s premises, from trading floors to utility rooms and warehouses.
- Transitioning to electronic document management.
- Collecting waste paper and recyclables.
- Environmental education programs focused on encouraging responsible consumption behavior among customers. The retail stores started collecting old belongings by installing containers where the customers could throw away their unwanted clothes and shoes. In return, they would receive discount coupons for purchasing new items in the Detsky Mir chain.
Efficiency Proven By Time
Although Grachev and Stiskin departed from Detsky Mir in October 2022 and February 2023, respectively, selling their shares in the process, the company remains committed to the path set by these visionary leaders. The impact of their initiatives continues to be evident as Detsky Mir’s share price on the Moscow Exchange steadily rises.
One significant factor contributing to the positive trajectory is the repurchase of securities from minority shareholders of Detsky Mir’s affiliates, DM-Invest and DM-Financial Assets. This voluntary offer, announced in late May 2023, played a key role in influencing the share price.
Furthermore, experts highlight the enduring interest in Detsky Mir’s securities from investors, reflecting the company’s solid business performance. The overall direction of the company demonstrates stability and thoughtful planning, reaffirming the efficiency and effectiveness of the strategies implemented during the tenure of Grachev and Stiskin.
