Gucci is the latest major international luxury brand to announce direct operations in Russia, taking over control of its 3 existing stores in Moscow (Tsum, Kutuzovskiy Prospekt e Barvikha Luxury Village) and preparing to open two new stores by the end of the year, one inside the Gum Department Store and a second one on Petrovka Street. For the time being, Gucci will maintain the franchising agreements for its mono-brand stores in St Petersburg, Sochi and Yekaterinburg.
Gucci marks the switch from franchising to direct operations in Moscow almost 17 years since the opening of its first store in Moscow. According to the the company’s CEO Patrizio di Marco, the move highlights the importance and the maturity of the Russian luxury market.
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