Chinese workers and overseas students in Russia have been snapping up goods at low prices caused by the steep fall in Russian rouble rates before brands can adjust them. These shopping agents, known as “daigou,” stockpile the products before selling them at a profit to buyers back home.
BoF goes inside the network of clandestine “showrooms” which distribute underpriced luxury fashion products across Russia and the former USSR.
The Aviapark mall will open its doors, just as Russia is headed toward recession and its businesses are contending with international sanctions over the conflict in Ukraine.
As Vladimir Putin’s policies push Russia further away from the global community, new laws limiting foreign ownership of Russian media will force publications in the country to restructure. Should the fashion press be worried? In the first of a two-part series, BoF examines the country’s changing fashion media landscape.
The gilded key to the world’s most dynamic emerging economies is a combination of on-the-ground intelligence and loyal contacts. Six in-demand emissaries in global fashion sat down with BoF to share a few home truths about the markets on their doorstep.
Internet auction site eBay intends to drive a wave of consolidation in Russia’s e-commerce market over the next couple of years, persuading smaller companies to get on board as the economy weakens.
MOSCOW, Russia — Workers in orange jackets and cranes were busy today dismantling a giant suitcase erected by LVMH Moet Hennessy Louis Vuitton SA in the middle of Moscow’s Red Square after it sparked protests.
MOSCOW, Russia — A lawmaker from President Vladimir Putin’s United Russia party is seeking to remove an LVMH Moet Hennessy Louis Vuitton SA exhibit in the middle of Red Square that’s bigger than Lenin’s tomb.
MOSCOW, Russia — On rainy days, the GUM mall on Moscow’s Red Square swarms with tourists. Unfortunately for GUM, the hordes seeking shelter tend to do more looking than buying, in large part because the big-brand fashions there cost about 50 percent more than they do in Paris or London.
Mira Duma, the daughter of former Russian lawmaker Vasily Duma, is emblematic of a new generation of Russians for whom the meaning of high fashion has shifted from flashy and expensive to understated and even more expensive.