Renowned Italian designer Giorgio Armani sought to entice Moscow consumers with his latest creations on a visit to Russia amid weaker demand globally for luxury goods. In his first visit to Moscow since 2009, the 81-year old fashion veteran presented and signed copies of his autobiography as well as hosted a catwalk show of his men's and women's autumn/winter 2016/2017 collections.
Models strutted down the catwalk in a former electric cable factory in the Russian capital and Armani closed the Thursday show holding a giant Russian nesting doll. "Russia is a key market, with many special customers who have always embraced my vision of style and lifestyle with great enthusiasm," he said in a statement. Armani has several stores in the country, which has been hurt by recession amid falling oil prices, which together with a slowdown in China and security fears impacting international tourism, have dampened the outlook for luxury goods demand.
In January, the Armani fashion house reported slower growth in 2015 than the previous year, with revenue up 3.7 percent to 2.64 billion euros ($2.98 billion).
(Reporting By Tom Barton in Moscow; Writing Marie-Louise Gumuchian in London)