Wealthy Russians use personal shoppers to access luxury goods despite sanctions

ft.com December 26, 2024, 06:01 AM UTC

Wealthy Russians are using personal shoppers and resellers to bypass sanctions on luxury goods. Despite restrictions on high-end brands after the Ukraine invasion, a thriving market for luxury items continues through social media platforms like Instagram and Telegram. Customs records show that shipments of luxury goods are being rerouted through countries without sanctions. For example, a shipment of over 300 Bottega Veneta bags was sent to Russia from Dubai by a reseller based in China. Some brands have adjusted their pricing to meet sanctions thresholds, while others continue to supply the Russian market. Analysts note that many Western designer brands remain available in Russia, despite the sanctions imposed in 2022.


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