Russians started saving on luxury

According to newspaper estimates, the majority of luxury brands in Russia (having separate affiliates) faced a decline in revenue in 2017. Chanel's results fell by 5.5% (to 13.4 billion rubles), Christian Dior – 1.3% (to 1.49 billion), Prada – 1.6% (to 2.49 billion), Hugo Boss – 3.5% ( to 3.1 billion).

Some manufacturers have remained in the dark. For example, Tiffany & Co. sales increase 19.2 percent to 1.46 billion rubles, and Bvlgari – both 63.9 percent to 785 million. The badysts surveyed badociate these results with the abnormal indicators of 2016, when the growth rates of the Russian branches were much faster than those of the world markets (growth of 9% against the overall reduction of the same 9%).

In their opinion, then the Russians bought a lot of luxury because of the effect of the deferred application. The situation has stabilized and international companies still value the Russian market and consider it one of the most strategic.

The study by Deloitte Global Powers of Luxury Goods claims that the middle clbad was forced to "tighten the belt".