![]() ![]() Valentino disclosed earlier this year that sales in Russia accounted for a mere three per cent of its turnover. The figures give an impression that Italy’s couturiers do not rely on selling to the family of Russian oligarchs. ![]() In the short term, the ban will cost his and similar companies surprisingly little. Many French and German competitors are in the same category.Ī senior executive at one of the big Italian fashion houses says that since the embargo on luxury goods took effect in March, ‘we’ve not shipped so much as a tiepin to Russia’. ![]() Many of the luxury Italian brands ‒ Moncler, Salvatore Ferragamo, Prada and Zegna ‒ are rated B, the grade awarded to ‘companies temporarily curtailing nearly all operations while keeping return options open’. Yale’s 29-strong team of researchers grades the firms from A (‘companies halting Russian engagements or completely exiting Russia’) all the way down to F (‘companies continuing business as usual in Russia’). ‘The only difference is that they have to wait for seven days for the clothes or shoes to be delivered,’ said a dissident who asked not to be named for fear of reprisals. Opponents of Vladimir Putin’s war who fled abroad say that friends in Russia can still buy many of the luxury items that were available before the invasion through Russian online retailers. Benetton has decided to continue its commercial activities in Russia ![]()
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