Fashion designer Tom Ford has opened his first women's clothing store in Moscow, giving a confidence boost to Russia's reviving luxury goods market.
With his black hair slicked back, the 50-year-old Texan said Thursday night that he was not fazed by the prospects of another economic recession in Russia, which previously ranked as the fourth-largest buyer of luxury goods.
The designer opened his first Moscow menswear store in 2009, and his new shop is located in an opulent central Moscow gallery, home to Prada and Tiffany boutiques and a Bentley car dealership.
"I launched my business just at a time when it was a downturn, but that has not affected us because as brand awareness has grown our figures have actually gone up," said Ford, former creative head of Gucci.
"Customers who are consuming our product may not be buying a new house or a new car, but they are still buying a new shirt, they are still buying a new pair of shoes," he said, wearing a sleek suit from the eponymous brand he launched in 2005.
Top designers are steadily trickling back into Russia after the 2009 economic crisis devastated the luxury goods market and forced stores such as Alexander McQueen to board up their windows for good.
"I didn't come back to start a new business to think of it as being a small thing," Ford said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.