It’s not clear which is more striking in this Katya Kazakina story about Guerman Aliev, the backer behind the fordPROJECT gallery, that the modeling agency makes little money or that someone thinks an art gallery is a logical brand extension from the fashion and photography business:
Aliev is head of Altpoint Capital Partners LLC, a New York-based private-equity firm that owns 93 percent of Ford Models.
“Ford as a brand is much stronger than the revenue it generates,” said Aliev recently while drinking green tea in his 50th-floor Altpoint office overlooking Central Park. “Our foray into the art world is a way to expand the brand.” […] Aliev said he has allocated between $1 million and $1.5 million a year for his gallery, including the cost of staffers, art fairs and celebrations […]
Aliev hired Rachel Vancelette, former director of Yvon Lambert and Gladstone galleries, and Tim Goossens, former assistant curator at PS1, to oversee sales and programming. In most shows, the prices will range from $10,000 to $100,000.