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When Luxury brands become the new cultural references

When Luxury brands become the new cultural references

Luxury Brands What defines a country, a group of people or any human association are often the common cultural references they share together. Literature, painting, sculpture, dance, religion or civic education are some of the many disciplines that generate symbols and habits. Luxury is also many times written into some heritage. While Baby boomers and generation X learned luxury via the possession of objects made by the brands, the younger generation, often called generation Y have a complete different approach….

Russian luxury market, so what?

Russian luxury market, so what?

Since the ex-URSS disappeared, many brands, especially the luxury ones have been trying hard to make good money in Russia. Luxury shopping malls in Moscow were built and many companies installed subsidiaries there. But are they really making money? What is the luxury industry status today? Until the global financial crisis of 2009, the luxury market in Russia was at the level of 8 billion dollars. Since the crisis stroke hardly many of the industrial countries, this figure was basically…