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03.04.2024 | Амина Айзятова

European luxury is finally leaving Russia

European luxury brands are gradually waking up after a two-year sleep and deciding to finally sever relations with Russia. Today, the Italian fashion house Fendi and the French luxury brand Hermes, who have now left Moscow GUM, are next in line. Both companies did not wish to renew the lease agreement, which ended on December 31, 2023. GUM confirmed that Hermes and Fendi have already vacated the premises for the next tenants, one of which was Pinko. There is currently no exact information about the contenders for the site where previously chosen ones could purchase the legendary Hermes bags.

Mikhail Kusnirovich, manager of a shopping complex in the center of Moscow, commented on the mass departure of European luxury:

“Let’s say I’m ready to make room for Chanel for a Russian designer. But who is ready to take responsibility, come to the first line of GUM and for a long time, in addition to all the marketplaces, begin to create their own?”

Despite the skepticism of the owner of Bosco di Ciliege, we want to believe that the day will come when Russian brands will be able to take the vacated places of European luxury with dignity.

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