The real drama is that of human lives lost in vain, of overwhelmed lives, of lives that will never be the same. But the war in Ukraine also causes a smaller, much smaller, but not irrelevant, drama related to jobs, in the West and in Russia, which will be lost to a stupid aggression. Both Russians and Westerners are dealing with the inevitable sanctions announced in time, before the invasion, which will have an impact on the accounts of companies, for example those of jewelry, as well as on the people who work there. The collapse of the ruble and the blocking of the credit card service, in fact, led many jewelry companies to suspend their business. Maybe they will close completely or reopen, if it all ends, but who knows when.
At the time of writing this short article, the last Western brand to close the boutique in Moscow was Swarovski, while Tiffany was among the first to lower the shutter, along with Vuitton. Others have already done so, others will follow. The list of Western Maisons that have opened a boutique in Moscow, St. Petersburg or other Russian cities is long. In Moscow, for example, they have a boutique Chopard, Van Cleef & Arpels, Akillis, Piaget, De Beers, H. Stern, Stephen Webster, Carrera y Carrera, Mauboussin, Mont-Blanc, Dior, Chaumet, Pandora, Frey Wille, Cartier , Trollbeads, Vuitton, Thomas Sabo, Bulgari, Pomellato, Adamas, Damiani, Buccellati. Other brands, such as Pasquale Bruni or Alcozer, are distributed in non-owned jewelers, or in airport duty free shops.
According to an analysis concerning Italian jewelery conducted by ICE (the state body for exports) in general, the Russian buyer is oriented towards medium or medium-high level jewelery. Also according to the analysis, the daily use of rings, earrings, bracelets and necklaces, especially in the capital and large cities, is now seen as a form of accessory to one’s image, not necessarily combined with luxury clothing or for events special. The favorite items of Russian women are rings, chains and earrings; men prefer chains and bracelets, while brooches and necklaces are bought by a minority of the female population, while typically male jewelry such as cufflinks and tie pins are in low demand. In recent years, however, silver jewelery has been more successful than gold, due to the unfavorable ruble-euro exchange rate. Italy (2019 data) exports about 77 million jewels to Russia, about 22 million France, the United States 21 million and the United Kingdom 23 million. However, the one who exports the most to Russia is China with over 88 million.
