Rich Russians splash out on luxury to stop savings melting away - Sydney Morning Herald

With sanctions on Russia sending the ruble plunging and keeping stock markets shuttered, the country’s wealthy are turning to luxury jewellery and watches in a bid to preserve the value of their savings.

It is true that luxury brands could decide not to serve the Russian market. Rationally, this would be a cost to them, possibly outweighed by the positive communication image they get in other markets… [+2570 chars]

full article...