Luxury boutiques are popping up across the country again, the capital's streets are gridlocked with Bentleys and top designers are steadily trickling back in. But analysts say Russia has been knocked off its pre-crisi...
American fashion designer Carolina Herrera followed in the footsteps of her sartorial colleague Giorgio Armani this week by vying for a piece of Russia's recovering luxury good market -- the world's fourth largest.
Russian fashionistas, lapping up the designs at Paris fashion week, are hopeful the world's fourth largest luxury buyer is regaining ground with recovery seen at home after taking a hard hit from the financial crisis.
Russia, the fourth largest luxury goods market and one of the world's fastest growing, is being hit by the financial crisis, the managing director of the country's biggest luxury goods group, Mercury, told Reuters.