The first thing that strikes the potential shopper in Moscow (as I was last week, there on a three-day business trip) is the Russia premium. Most designer brands in Moscow, St Petersburg and elsewhere add somewhere between 20% and 40% on top of their prices for the Russian market. An Etro suit that costs £600 in London, for example, was priced in Moscow at the equivalent of £780.
The first thing that strikes the potential shopper in Moscow (as I was last week, there on a three-day business trip) is the Russia premium. Most designer brands in Moscow, St Petersburg and elsewhere add somewhere between 20% and 40% on top of their prices for the Russian market. An Etro suit that costs £600 in London, for example, was priced in Moscow at the equivalent of £780.
2 Guest Comments »
1.
Neat article about a subject not addressed anywhere else (to my knowledge). Thanks for the insight.
Comment by Alan B. — August 26, 2008 #
2.
I was born in Greece and now live in Monte Carlo. Russians are buying up everything and they do not get along with the locals at all. They are extremely high maintainance and a bit rude at times. These are the new great nations however, China, India, Russia, Brazil and UAE. We are going to have to get used to them I suppose. I am a bit worried about how they will mix into the global community. Russia invading Georgia and Armani opening 4 floor showrooms in Moscow may have to come to an end.
Comment by Caligula — August 26, 2008 #
To be fair, there is a real emerging middle class in Moscow, who tend to buy the same mass market brands as their counterparts in Madrid or Paris or Berlin.
As for the oligarchs, you don’t have to venture further than South Kensington to see the same thing.
So funny – I only came across this post now when I browsed through your very early articles… I guess your observations were very true for that time (and still to some – albeit much lesser – extent today). I take it you never came back? It changed a lot. There are even some very decent bespoke Russian tailors nowadays.
I’m afraid not Andrey, no. I wish I could