He joins Donatella Versace and Lanvin's Alber Elbaz, who also both announced this month that they intend to open new designer outposts in Moscow. "Emerging markets are the future," said Ford who has recognised Moscow as the new hotspot for the luxury market that we in the West are so used to.
But why Moscow? "Russians are hardwired to appreciate the fine things in life. They have been denied nice things for years" thinks Ford. We think it might also have something to do with all that new money. It's only in the last 15 years since the collapse of Communism that Moscovites have been able to embrace capitalism, and consumerism. And now that they are making up for lost time, fashion and shopping are filling the void.
Maybe Ford is right and Russians have a new appetite for designer labels that us recession fearing, jaded, western consumers just don't have anymore. Or maybe it's because even if you could afford a £15,000 fur coat there's probably more call for it in Red Square than Hoxton Square this winter!
By Laurelle Gilbert
Posted: 5th December 2007More