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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"