When asked to comment, the Armani group issued a statement that said it ‘does not operate directly in Russia and the shops operating in the country with the brands of the group are managed by independent franchisees’. The most surprising is Armani, since it hardly belongs to the cut-price end of the market, even if its Emporio Armani stores appeal to a young clientele. Armani, Benetton, Diesel and Calzedonia have all been consigned to the ‘sin bin’ with the lowest possible grade, accused of carrying on as if nothing had happened. But within days of the invasion it suspended all its activities in Russia, posting a message in Russian on its website that read: ‘Due to the current situation, we are unable to complete any new orders in your country.’Īccording to Yale, however, four of the best-known names in Italian fashion have taken a different approach. Its website offers plenty of products under €300. Milan-based Yoox, the global online retail giant, is an example of a firm that could have continued working with Russia but decided not to. In fashion, the further you go down the market where products cost less than €300 and young consumers are in a majority the trickier the balancing act becomes. ‘Young people are particularly sensitive to ethical issues.’ ‘Consumers may well say, “I don’t want to buy your products any more because you’re continuing to profit from business in Russia,”’ says Cummins. Set against the legal risks of cutting off supplies to Russia are the reputational dangers of exporting items that are not covered by the sanctions. ‘This is an area in which companies have struggled to balance their legal obligations with doing the right thing,’ says Tom Cummins, a partner at Ashurst, a London law firm that has been advising firms on the sanctions. And, in many cases, the brands are in breach of those contracts because they are not supplying their Russian partners with goods, particularly those priced under €300 not subject to the embargo. They are run by local franchise-holders with whom they have contracts. Most do not own the stores in which their wares are sold. The fashion houses risk being sued in the Russian courts. In the longer term, however, there may be a price to pay. All those sales remain perfectly legal, as the Russian couple in Florence demonstrated. But that omits all the beautiful gowns, shoes and bags purchased by Russian tourists abroad, whether in Rome, Portofino or in shops elsewhere such as London, Paris and New York. Valentino disclosed earlier this year that sales in Russia accounted for a mere three per cent of its turnover. The figures give an impression that Italy’s couturiers do not rely on selling to the family of Russian oligarchs. In the short term, the ban will cost his and similar companies surprisingly little. Many French and German competitors are in the same category.Ī senior executive at one of the big Italian fashion houses says that since the embargo on luxury goods took effect in March, ‘we’ve not shipped so much as a tiepin to Russia’. Many of the luxury Italian brands ‒ Moncler, Salvatore Ferragamo, Prada and Zegna ‒ are rated B, the grade awarded to ‘companies temporarily curtailing nearly all operations while keeping return options open’. Yale’s 29-strong team of researchers grades the firms from A (‘companies halting Russian engagements or completely exiting Russia’) all the way down to F (‘companies continuing business as usual in Russia’). ‘The only difference is that they have to wait for seven days for the clothes or shoes to be delivered,’ said a dissident who asked not to be named for fear of reprisals. Opponents of Vladimir Putin’s war who fled abroad say that friends in Russia can still buy many of the luxury items that were available before the invasion through Russian online retailers. Get that tough, modern, urban look you crave with Stylight.Benetton has decided to continue its commercial activities in Russia Make every day and every outfit special with jewelry from Diesel. Stay on time and in style with a classic Diesel watch.Keep your keys in order with a leather and metal Diesel keychain.Add a touch of modern urban style with a metal skull bracelet or a metal logo cutout cuff.There are so many ways to add Diesel to your life: Available details include metal beads, studs, and skulls. Add Color to your OutfitĪdd color with colorful braided leather bracelet with Diesel logo charms. Pick from logo rings, bracelets, and necklaces, key chains, logo charm bracelets, cuffs, watches, and chains. Wide Variety of ChoicesĬhoose to bling up your outfit with Diesel's wide variety of jewelry options. Show off your unique personal style with Diesel's rings, bracelets, necklaces and key chains. Finish off your look with the leather and metal accents of Diesel jewelry. The urban industrial look of Diesel apparel and accessories carries over into Diesel's line of jewelry.