On 26 November, at the closing 2014 meeting, the Board of Directors adopted the decision on appointing Kestutis Sasnauskas CEO of Melon Fashion Group from January 1, 2015. Polina Bakshaeva, MFG CEO since January 2014, steps down from the position due to her private circumstances. 

“Under the guidance of Polina Bakshaeva, MFG has launched programs aimed at raising efficiency and profitability of the Group. We see these actions starting to bring fruit already now, in the present-day economic realia. We are grateful to Polina for carrying out these strategic initiatives and glad that she remains at the Company as deputy CEO. In my turn, I am planning to place the Company on a higher level of development with strong brands and efficient structure”, commented Kestutis Sasnauskas.

It is noteworthy that Kestutis Sasnauskas has been Chairman of the MFG Board of Directors since 2012. Being appointed CEO, he resigns from the Board. His successor in the capacity of the Chairman is David Kellermann, member of the Board of Directors since the Company’s foundation and its main shareholder.


For reference:

Kestutis Sasnauskas is a Founding Partner of East Capital and the CEO of East Capital Private Equity AB, Sweden.  Kestutis has been instrumental in executing many transactions in the CIS and the Baltic States. He has extensive experience and great expertise in, among others areas, the Baltic and Russian consumer and industrial goods markets, as well as the banking and real estate sectors. Kestutis previously worked at Enskilda Securities, where he was responsible for Baltic Research and spent a much of his time visiting private and listed companies in the Baltic States. Kestutis has studied at Vilnius University, the University of Gotland, Sweden and Stockholm School of Economics. He is fluent in Lithuanian, Russian, Swedish and English.

David Kellermann is the main shareholder of the PJSC Melon Fashion Group, represents  I.G.M. Manufactrust Limited, Cyprus.

The PJSC Melon Fashion Group operates three fashion brands: befree, ZARINA and LOVE REPUBLIC. The Company runs full cycle of the fashion business from design through production and buying to distribution, sales and marketing of women’s and men’s clothing, shoes and accessories.

As of December 1 2014, MFG operates 662 stores. 627 stores are in Russia (508 belong to the Company’s own retail and 119 are franchisee stores). 23 stores operate in Ukraine, 9 stores are open in Kazakhstan, 2 stores in Belarus and 1 in Armenia.

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