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What is the luxury market in Russia ?

What is the luxury market in Russia ?

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The luxury world continues to take drastic measures regarding its brands in Russia, as the Russia-Ukraine conflict continues.

 

After Hermès, LVMH and Kering announced last weekend the “temporary” closure of their stores operating in Russia due to the war in Ukraine, the three stocks lost more than 5% in early trading this Thursday morning. LVMH still has 124 outlets throughout the country, “but this volume must be put into perspective in view of the size of the group and its multiple activities,” wrote the analysis office of Invest Securities this morning. LVMH said it would continue to support its Russian employees by ensuring the maintenance of salaries.

 

See Also


Luxury moves away from Russia

 

 

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