Biggest designers including Prada, Dior and Gucci shut down in Moscow as Western sanctions bite

The biggest designer boutiques, including Prada, Dior and Gucci, closed in Moscow as Western sanctions bit and the wives of oligarchs asked, “Where are we going to shop now?”

Advertising










The world’s biggest fashion houses have closed in Moscow, preventing Russia’s super-rich from shopping at their favorite designer boutiques.

Prada, Dior, Louis Vuitton, Gucci and Fendi were among those who emptied their shelves in luxury malls in the Russian capital as sanctions begin to weigh.

Inside the elite TsUM and GUM outlets near Red Square, many of the top designers today were closed to unimpressed shoppers.

The world’s biggest fashion houses such as Prada, pictured today, have closed in Moscow, leaving Russia’s super-rich unable to shop in their favorite designer stores

Prada, Dior, Louis Vuitton, Gucci and Fendi were among those who emptied their shelves in <a class=luxury shopping malls in the Russian capital as sanctions begin to bite (pictured today)” class=”blkBorder img-share” style=”max-width:100%” />

Prada, Dior, Louis Vuitton, Gucci and Fendi were among those who emptied their shelves in luxury shopping malls in the Russian capital as sanctions begin to bite (pictured today)

Inside the elite TsUM and GUM outlets near Red Square, many of the best designers were closed to disappointed shoppers today

Inside the elite TsUM and GUM outlets near Red Square, many of the best designers were closed to disappointed shoppers today

Today is normally a big shopping day in Moscow, when men shop for gifts for their partners ahead of International Women’s Day tomorrow.

But the sanctions against Vladimir Putin’s war in Ukraine put an end to that.

‘What happened?’ asked a client in her thirties, apparently unaware of the invasion.

She looked puzzled at the empty shelves.

Today is normally one of the biggest shopping days in Moscow, when men shop for gifts for their partners ahead of International Women's Day tomorrow

Today is normally one of the biggest shopping days in Moscow, when men shop for gifts for their partners ahead of International Women’s Day tomorrow

But sanctions on Vladimir Putin's war in Ukraine put a stop to designer shopping in Moscow today

But sanctions on Vladimir Putin’s war in Ukraine put a stop to designer shopping in Moscow today

Moscow Reds-to-Riches oligarchs and their wives often shopped in Europe or the United States rather than Moscow

Moscow Reds-to-Riches oligarchs and their wives often shopped in Europe or the United States rather than Moscow

The Moscow Reds-to-Riches oligarchs and their wives often shopped in Europe or the United States rather than Moscow – but foreign travel is now all but blocked.

Some Russian outlets remained open and crowded, but major Western brands were unavailable.

A furious shopper in a Chinchilla jacket said, “See, we’re too late.”

She had come with her parents to buy her birthday present at Jimmy Choo.

This store at TsUM remains open – but supplies were limited.

And the images showed distinctly gray clouds overhead.

“They don’t have my size,” she told her mother and father. “I told you, we should have come sooner.

Western sanctions are starting to hit consumers in Russia with many stores now closed

Western sanctions are starting to hit consumers in Russia with many stores now closed

Russians were seen forming huge queues at ATMs, rushing to withdraw their US dollar deposits

Russians were seen forming huge queues at ATMs, rushing to withdraw their US dollar deposits

Western sanctions and the collapse of the ruble have hammered the purchasing power of ordinary Russians

Western sanctions and the collapse of the ruble have hammered the purchasing power of ordinary Russians

The global financial system risks being split as Russia turns to China’s response to Visa and Mastercard after the card companies pulled out of the country along with a host of other Western companies including Netflix and TikTok.

Lenders including Sberbank and Alfa Bank are planning to switch to UnionPay in China for their customers’ bank cards – although an expert today said the move would take time and cause serious economic disruption.

It’s a new sign that the global financial system is splitting in two, with Moscow increasingly backing Beijing’s efforts to challenge the West’s dominance over the global banking infrastructure.

Russia was also recently kicked out of Swift – which banks use to exchange messages – raising fears it may turn to CIPS, a Chinese rival, instead.

Western sanctions and the collapse of the ruble have hammered the purchasing power of ordinary Russians, who have been seen forming huge queues at ATMs, rushing to withdraw their US dollar deposits.

Last night, accounting firms PWC and KPMG became the latest firms to announce their withdrawal from Russia and its ally, Belarus. Meanwhile, there have been calls for boycotts of Coca-Cola, McDonald’s and Pepsi for continuing to do business in the country.

Here’s how YOU can help: Donate here at the Mail Force Ukraine Appeal

Readers of Mail Newspapers and MailOnline have always shown immense generosity in times of crisis.

Appealing to this human spirit, we support a huge fundraising campaign for refugees from Ukraine.

For surely no one can fail to be moved by the heartbreaking images and stories of families – mostly women, children, the infirm and the elderly – fleeing the invading Russian armed forces.

As this tally of misery mounts over the coming days and months, these innocent victims of a tyrant will need housing, schools and medical support.

Donations to the Mail Force Ukraine appeal will be used to support charities and aid organizations providing these essential services.

In the name of charity and compassion, we urge all our readers to give quickly and generously.

TO MAKE AN ONLINE DONATION

Donate at www.mailforcecharity.co.uk/donate

Add The gift aid to a donation – even already made – complete an online form available here: mymail.co.uk/ukraine

By bank transfer, please use this information:

Account name: Charity Mail Force

Account number: 48867365

Sort code: 60-00-01

TO MAKE A DONATION BY CHECK

Make your check payable to “Mail Force” and post it to: Mail Newspapers Ukraine Appeal, GFM, 42 Phoenix Court, Hawkins Road, Colchester, Essex CO2 8JY

TO DONATE FROM USA

US readers can donate to the appeal via wire transfer to Associated Newspapers or by sending checks to dailymail.com headquarters at 51 Astor Place (9th floor), New York, NY 1000