The chain was launched by private investors in 2003, with 36% of its shares owned by Alexander Mamut (also a shareholder in Ingosstrah, and Corbina Telecom, a Golden Telecom subsidiary); a further percentage split equally between Roman Lola, Dmitry Kushaev and Maxim Scherbakov, and the rest by Waterstone’s founder, Tim Waterstone.
It is the main shopping centre in the town, with over 40 shops, including Primark (its anchor store), Next, HMV, Waterstone's, W H Smith, Topshop and Tesco Express.
The majority of branches were rebranded as Waterstone's, while a remainder were sold on to the smaller chain Ottakar's, which itself was later taken over by Waterstone's in 2006.
In May 2011 he was appointed managing director of Waterstone's by the company's new owner, Alexander Mamut.
HMV chief executive Alan Giles said in a statement: "A combined Waterstone's and Ottakar's business will create an exciting, quality bookseller, able to respond better to the increasingly competitive pressures of the retail market."
Band creators Jamie Hewlett and Damon Albarn also appeared in Oxford Street, London bookstore Waterstone's to sign copies of the book on 6 November 2006 from 6pm-7pm (note the use of sixes on the date as a reference to Murdoc's satanic ways).