The European Commission bans the export of luxury goods to Russia

After the decision of several large luxury groups to close their stores in Russia, the European Union decides a new sanction concerning the export of luxury products.

In Russia, the share of sales of luxury houses is rather modest, 2% for LVMH last year or 1% for Kering to name but two. The impact of the European Union’s decision to stop exporting luxury goods to Russia in the face of the war in Ukraine should therefore not have too much impact on the major groups. But some French or Italian luxury brands will see a drop in their revenues.

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Featured photo : © Hermès

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Hélène Cougot

Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.