According to a survey conducted by the Financial Times and Morpheus Research, European luxury homes are still being sold on the Russian market, but at prices sometimes reaching double those seen elsewhere in the world. This situation is linked to the circumvention of European sanctions and the use of exports via third countries, which is largely reflected in the margins.
While most luxury consumers around the world have finally rebelled against soaring post-COVID prices, this is not yet the case for Russians…
Because in this market, which has been hit by Western sanctions since the conflict in Ukraine, luxury goods are more desirable than ever. And Russian customers are willing to pay much more than elsewhere in the world for the same items.
Imports via third countries
According to the findings of the Financial Times, which drew on the work of Morpheus Research, a young activist short-selling fund, many Western brands continue to be sold in Russia, but at much higher prices.
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