MOSCOW — It may have the image of a corrupt Wild West, but Samsonite chief executive Marcello Bottoli says luxury brands can't afford to underinvest in Russia.
The Russian market is "growing at twice the rate of other luxury markets," Bottoli said on the final day of the International Herald Tribune's "Supreme Luxury" conference here. If U.S. shoppers spend less because of the mortgage credit crisis and high gas prices, income from branches in Russia, China and India will shore up firms' bottom lines, he said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)