Your account has been succesfully created.

EN FR

Next issue: January 09, 2025

The Morning Brief
Log in

Password

Keep me logged in

Forgot your password?
Subscribe

Front Row
Running stories

Running stories
The greatest stories are told in chapters. Follow our long-term investigations delving into luxury's deepest secrets.
All Running stories

The geopolitics of fake goods
Houses

Jewellery sector's quest for clarity
Houses

The battle of the Bulgari heiresses
Families

Password

Keep me logged in

Forgot your password?
Over 300 articles

Spotlight | Russia
Luxury sector eludes effort to seal Ukraine sanctions loopholes

One of the first packages of EU sanctions banned luxury groups from doing business in Russia. © Studio Pachamama

After Moscow annexed four Ukrainian regions last week, the European Union and the United States sought to tighten the grip of sanctions already in place against Russia, particularly over the trade in luxury goods. But at the eleventh hour, brands that have long prospered from their Russian clientele have managed once more to slip through the cracks in Europe. [...]

Published on 06/10/2022 at 06:30 GMT Reading time 3 minutes

This article is free

Create an account to read more

Do you want a free trial before subscribing?

create a free account

Read this article here:

Entourage

Set up email notifications for these topics

Antwerp World Diamond Centre
Diarough
European Union
HalkBank
KGK Group
Majid Al Futtaim Group
Mir
Pluczenik Diamond Co
Rosy Blue
Taché Diamonds
Vakifbank
Ziraat Bank

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers claims to source its diamonds only from Africa and Canada, but last year it sold stones of Russian origin in the United States. The firm also bought diamonds in 2022 from the Russian firm Alrosa via an Israeli company.

Subscribers only Houses 25.05.2023

Russia, United States
Looming Russian diamonds' embargo fails to take shine off sales of its coloured stones

US diplomacy has been pushing to get the G7, which is about to meet in Japan, to discuss a sanctions plan on Russian diamonds. Whatever the outcome of these talks, one thing is certain: emeralds mined for Moscow will continue to be sold freely.

Free access Entourage 18.05.2023

Europe
Luxury lobbyists tangle with European Commission over artificial intelligence regulation

Lobbyists for luxury groups are ramping up efforts in Brussels to prevent two Europe-wide legislative proposals, the Data Act and the Artificial Intelligence Act, from hampering the development of the online retail sector.

Subscribers only Houses 11.05.2023

Spotlight | Russia, Turkey
Putin weaponises counterfeit luxury goods amid Ukraine war

One of Russian President Vladimir Putin's responses to Western support for Ukraine has been to make it much easier for fake luxury products to transit through - and be manufactured in - his country.

Free access Entourage 09.02.2023

Vladimir Putin facilitates the transit of luxury counterfeit goods through Russia, as well as their manufacture.

Spotlight | Middle East
New generation has changes in store for mall giant Majid Al Futtaim

The Majid Al Futtaim Group - a key partner of the luxury giants that all have shops in its Middle Eastern malls and hotel lobbies - is gradually being taken over by the founding family's third generation.

Subscribers only Families 19.01.2023

Alain Bejjani (left) has been replaced by Ahmed Galal Ismail (right) as CEO of the UAE-based Majid Al Futtaim Group, whose main shareholder is now Tariq Al Futtaim (centre).

China
Beijing prepares new generation of duty-free shops

Two years after giving out new duty-free operating licences on the island of Hainan, China's government is preparing another revolution in tax-free luxury shopping: duty-free shops in the hearts of cities.

Free access Entourage 22.12.2022

France, Italy, Russia
High-end tailors Stefano Ricci and Zilli slip through cracks amid Ukraine War sanctions

While most major luxury houses have closed their boutiques in Russia following European sanctions, a handful of brands has continued to sell to local clients.

Subscribers only Entourage 08.12.2022

Spotlight | Russia
Putin's heavy-handed support pushes Russian watchmaker Raketa to seek business in the Gulf

Having unintentionally become the emblem of self-sufficiency for Russian luxury goods, the Franco-British-owned Russian watchmaker Raketa is investing heavily in the Middle East to compensate for losses in its European markets.

Subscribers only Houses 17.11.2022

Switzerland
The reasoning behind Cartier's discreet refit of its diamond procurement unit

Following an internal investigation, the jeweller Cartier, a subsidiary of the Richemont group, has quietly dismissed several members of its diamond procurement unit.

Subscribers only Houses 17.11.2022

Spotlight | Saudi Arabia
LVMH, Kering, Richemont and Rolex face off in Riyadh, luxury's new El Dorado

The last Arab country under-equipped in malls and luxury shops, Saudi Arabia is progressively opening its doors to perfumes, jewellery and cosmetics, under Crown Prince Mohammed bin Salman's guidance. The industry's biggest names are jockeying for position.

Free access Houses 27.10.2022

Central Africa, France
'Zé' Obiang: a loyal but tricky customer for luxury's big names

When Paris Fashion Week shows drew to a close on 4 October, the fashion houses started counting their coffers. Equatorial Guinea's presidential family has long held a special place among the small group of those wealthy enough to purchase the clothes and accessories featured on the catwalks.

Subscribers only Entourage 13.10.2022

Middle East
[Due Diligence] Al Futtaim succession leaves luxury groups in a quandary

Nearly a year after the death of Majid Al Futtaim, the Middle East's leading shopping mall magnate, the European and American luxury groups that rely on his malls to sell their products in the region are anxiously awaiting the outcome of his succession, which is shrouded in mystery.

Subscribers only Houses 06.10.2022

Spotlight | Middle East
Qatar mega-mall Place Vendome stakes claim on luxury windfall

Qatar is intent on recouping some of the funds its nationals spend in the boutiques of Paris, London and Geneva. With some of the world's most avid luxury consumers, the emirate is growing its own investment in the sector, sharpening its efforts before football's World Cup kicks off there in November.

Subscribers only Entourage 29.09.2022

Place Vendôme shopping centre, located in the new district of Lusail, 15 km from Doha.

Set up email notifications for these topics

Antwerp World Diamond Centre
Diarough
European Union
HalkBank
KGK Group
Majid Al Futtaim Group
Mir
Pluczenik Diamond Co
Rosy Blue
Taché Diamonds
Vakifbank
Ziraat Bank

Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. Stay informed anytime, anywhere!