Back when the largest retailer of children’s products had been going through an acquisition, Grachev and Stiskin were top managers in Polyus, the leading Russian gold mining company. In the spring of 2021, Grachev and Stiskin became shareholders of Detsky Mir and joined its Board of Directors.
Grachev and Stiskin decided to focus on the environmental agenda and introduce changes at several levels. They aimed their initiatives at encouraging ecological thinking among Detsky Mir’s customers of all ages, both children and their parents.
One of their key priorities was transitioning Detsky Mir to eco-packaging to mitigate the harmful impact on the environment. Two types of eco-friendly packaging were offered: paper bags and fabric shopper bags. This helped consumers to give up single-use plastic bags without any trouble. By late 2021, Detsky Mir sold more than 850,000 pieces of eco-friendly packaging, and this was only the beginning.
To reduce the consumption of natural resources, Grachev and Stiskin launched a program to install energy-efficient light bulbs in the Detsky Mir’s stores and offices. They also reduced the amount of paper waste by introducing electronic document management.
In the fall of 2022, Pavel Grachev resigned from the Board of Directors of Detsky Mir. Mikhail Stiskin left the retailer’s Board of Directors in February 2023. The top executives sold their shares (29.9%) to an investment consortium headed by A. Zuev (the founder of Korablik). The deal was closed in early May.
The head of the investment consortium noted that he planned to maintain and foster the transformation initiative launched by Grachev and Stiskin. He believes that ESG principles make the retailer’s business model more responsive to modern challenges.
