Pitti Uomo: Russian buyers are worried and few

By

Dominique Muret

Published
Jan 15, 2015

Even though Russia, the guest of honour of Pitti Uomo, had to pull out of the event owing to insufficient funds, Russian buyers did manage to make the trip to Florence. The current economic crisis in Russia did not stop them from coming to Pitti Uomo, even if their numbers were smaller than in the past.

"They are here, but there is a lot less of them, which is a rather negative sign," said an exhibitor. "We came across a few of them. The feeling is that the situation is very difficult, but for now they can still "survive". However, if the rouble depreciates again or even further, it will no longer be bearable," said another one.

The major Russian distributors, from Mercury to Bosco di Ciliegi, were present though. Some of them shared their worries with the trade fair's organisers. "They are worried and very disoriented. They hope that their government can find an agreement with the European leaders regarding sanctions," reported the President of Pitti Immagine, Gaetano Marzotto.

The fall of the rouble, which has lost 40% of its value compared to the dollar and the euro since last January, is their main concern. "At the core, Russian buyers are willing to confirm their orders, but they are looking for rebates and the possibility to spread out their payments. They are indeed hoping that the rouble will pick back up," he concluded.