Louis Vuitton lost 1.1 billion rubles in 2024 due to the closure of stores in the Russian Federation. Also suffering losses are Chanel, Gucci, Prada, Christian Dior and Hermes.
While heavy luxury is waiting for the lifting of sanctions to burst back into Moscow boutiques, his Russian daughter is suffering losses. Louis Vuitton Vostok LLC was registered back in 2002. Starting from 2022, it went into the negative by 950 million, in 2023 – by almost 1.5 billion rubles. Last year the loss amounted to 1.1 billion rubles. The same decline in 2023 was noticed in other companies:
— Gucci Rus LLC — 1.7 billion rubles.
– Chanel LLC – 7.7 billion rubles.
— Prada Rus LLC — about 450 million.
— Christian Dior Couture Stoleshnikov LLC — 1.7 billion.
— JSC “Ermes Rus” — 1.8 billion.
In order to avoid getting criminal charges in their homeland, sales were stopped. But you have to pay rent or taxes for your own stores. In the case of LV, this is a two-story mansion with an area of about 1.5 thousand square meters in Stoleshka. Chanel rents its flagship on Petrovka.
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