Luxury price drops in Russian department stores. TsUM in Moscow and DLT in St Petersburg, two of the Eurasian giant’s main shopping malls, repeat the promotional operation of last February with “The most affordable price”. Some Russian shopping centres have chosen to align their luxury prices with international ones. Customers are informed that price tags are the same as Italian ones by signs in stores saying: “Milan prices for everything”. According to the “Style” portal of the Russian agency RBC, prices in Russian windows are 9% higher than in Italian ones, 18% higher than in London and 40% more than in Dubai. The brands examined by “Style” include Giorgio Armani, Alexander McQueen, Ralph Lauren, Valentino, Tom Ford, Bottega Veneta, Brioni, Canali and Dolce & Gabbana.
Receipts from Milan in Moscow: Russian department stores cut their luxury prices to give a boost to consumption
