Ms Townsend said that luxury brands could also be nervous about selling in Russia because of the growing number of the country’s richest people. was punished.
“Typically, when you spend a lot of money on an expensive luxury brand, you don’t expect the store to take your passport and see if you’re on the sanctions list,” she said. “If they do, they could lose customers.”
The escalating crisis coincides with a string of fashion shows in Milan and Paris this month, events that not so long ago featured young wives of financiers, who were hailed as influential and proved attractive to photographers.
The Russo-Ukrainian War and the Global Economy
Now, nearly all luxury executives have been quick to say that their main concern is for their employees in Russia, rather than condemning the actions of the Russian government, albeit transparently. Last week, the designers moved from refraining from any comment to a virtually universal – and public – pro-peace statement in the form of voiceovers at performances or addendums to recordings. their program notes.
Most of the major retailers and brands, including Ikea and Apple, have announced donations to aid Ukrainians evicted from their homes due to the conflict. At the Givenchy show, an inscription was left on each chair that said the brand had donated to the Ukrainian Red Cross and provided QR codes for guests to donate. At Stella McCartney, the program noted that the brand was “dedicated to those affected by the war in Ukraine,” and that it made a donation to provide emergency assistance to the people of Ukraine.
Both brands are owned by LVMH, although the biggest runway claim is made by Balenciaga, the Kering-owned company, and where a giant T-shirt in the colors of the Ukrainian flag is placed on every seats, along with a personal statement from the designer, Demna, who fled Georgia as a child. Salma Hayek Pinault quickly put on a T-shirt and her husband, Francois-Henri Pinault, Kering’s chief executive officer, draped his shoulders. The program itself, including models carrying trash bags and trudging through a snowstorm, is the only one who has come face-to-face with the plight of the refugees. However, there has been some criticism of the designer on social media for dramatizing the atrocities of war in the final commercial setting.