The second in a series of short films investigating important luxury markets, we look at luxury in Moscow, as presented by The Luxury Channel.
CONSUMERS
Moscow: Where Wealth is Worn with Pride
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Over the last decade, collaborations between luxury brands and contemporary artists have gone beyond mere artistic partnerships towards a new kind of luxury branding.
PARIS – Art and fashion have always developed side by side, for fashion, like art, often gives visual expression to the cultural zeitgeist. During the 1920s, Salvador Dalí created dresses for Coco Chanel and Elsa Schiapparelli. In the 1930s, Ferragamo’s shoes commissioned designs for advertisements from Futurist painter Lucio Venna, while Gianni Versace commissioned works from artists such as Alighiero Boetti and Roy Lichtenstein for the launch of his collections. Yves Saint Laurent’s vast art collection, recently auctioned at Christie’s in Paris, testified to his great love of art and revealed the influence of a variety of artists on his own designs.
In the 1980s, relationships between luxury brands and artists were advanced when Alain Dominique Perrin created the Fondation Cartier. In the Fondation Cartier pour l’Art Contemporain, a book marking the foundation’s 20th anniversary, Perrin says he makes “a connection between all the different sorts of arts, and luxury goods are a kind of art. Luxury goods are handicrafts of art, applied art.”
The Fondation Cartier pour l’Art Contemparain building in Paris
The second in a series of short films investigating important luxury markets, we look at luxury in Moscow, as presented by The Luxury Channel.
The second in a series of short films investigating important luxury markets and interviewing local key players, we look at luxury in Moscow, as presented by The Luxury Channel.
It is no secret that Russia has a longstanding history with luxury, the climatically appropriate penchant for furs, the love of gold and diamonds, the booming caviar industry and some of the most opulent palaces in the world, Russia has long been a priority market for luxury brands. Moscow is an important location as ever, as home to one of the highest concentration of billionaires in the world, second only to New York (according to Forbes).
After the effects of the global financial crisis, Russia’s economy is showing strong signs of recovery, fuelled by rising commodity prices and consumer spending, growth will amount to at least 4 percent this year according to Prime Minister Vladimir Putin. After a nine-year ban courtesy of relentless over-fishing, Russia has begun exporting sturgeon caviar to the European Union once more. Late 2010 saw the opening of the six-star Lotte Hotel Moscow, with 304 luxury guest rooms and a French restaurant by 3-star Michelin Chef Pierre Gagnaire.
Moscow is home to two major players in the Russian luxury market: Mercury Distribution started as a single jewellery store and now generates more than 1 billion Euros in annual sales. With involvements in fashion, accessories, jewellery and luxury automobiles, Mercury are also responsible for six-story department store Tsum. Bosco di Ciliegi similarly retail and distribute an extensive array of luxury brands throughout Russia, as well as operating Bosco multibrand stores and historical department store GUM on Red Square in Moscow.
We also invite you to view our first feature in the series:
India: where Eastern tradition meets Western luxury.
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Creative Strategist, Digital
Sophie Doran is currently Senior Creative Strategist, Digital at Karla Otto. Prior to this role, she was the Paris-based editor-in-chief of Luxury Society. Prior to joining Luxury Society, Sophie completed her MBA in Melbourne, Australia, with a focus on luxury brand dynamics and leadership, whilst simultaneously working in management roles for several luxury retailers.
