Providing a confidence thrust to Russiaâs revitalizing luxury items market, Texas-based fashion designer Tom Ford has launched his first womenâs apparel outlet in Moscow.
The 50 year old designer, who earlier headed Gucciâs creative team, said that he was not concerned about the probabilities of Russia falling prey to another economic slowdown. He said that Russia was previously the worldâs fourth largest consumer of luxury items.
The new outlet has been launched in affluent central Moscow gallery, which also houses boutiques of brands like Prada and Tiffany.
Ford, who launched his first menswear outlet in Moscow in 2009, mentioned that he started his business during the times of economic slowdown, but his store was not hit by the recession, and its sales figures have gone up along with rising brand-consciousness.
The designer said customers may avoid buying a new house or a car but still spend on buying a shirt or new shoes, during times of recession.
Post-2009 economic crisis that wiped out Russiaâs luxury goods market and compelled outlets like Alexander McQueen to close down, leading designers are now gradually moving back to Russia.