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How luxury navigates the war in Ukraine
Luxury goods were among the first sectors to be affected by sanctions against Russia. © Studio Pachamama

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How luxury navigates the war in Ukraine

Since Russia invaded Ukraine in February 2022, economic sanctions have been mounting up against the Kremlin. While the luxury sector was one of the first to be affected, with brands forced to shutter their shops in Russia in the weeks following the outbreak of war, some companies are seeking ways around the sanctions. And the diamonds and other gemstones used in luxury jewellery are, at least for the time being, exempt.

How luxury navigates the war in Ukraine
Luxury goods were among the first sectors to be affected by sanctions against Russia. © Studio Pachamama

Russia, Ukraine, United States
Is Ukraine a gateway for Russian stones?

The Ukrainian jewellery market is riding high on its position as an alternative to Russia's dominance in the sector, fast-tracking its access to global trading hubs. But the provenance of Ukraine's raw materials, especially diamonds, remains opaque.

LogoSubscribers only Entourage 07.12.2023

United States
Questions mount over synthetic diamond certifications

The ratings that certification bodies ascribe to diamonds to determine their quality, and thus inform their value, are under fire. Critics say certain defects in synthetic diamonds, such as premature ageing, are not sufficiently taken into account, nor is the stones' environmental impact.

LogoSubscribers only Entourage 30.11.2023

China
De Beers leads charm offensive in China

With the price of natural diamonds in free fall since the summer and luxury consumption sluggish in Europe and the United States, market leader De Beers is focusing on China to mitigate losses.

LogoSubscribers only Entourage 23.11.2023

Africa, Belgium, China
Antwerp diamond traders cut fresh deals to bypass EU sanctions

In search of an alternative to Russian diamonds, whose trade the EU has been trying to sanction for a year, Antwerp, one of the world's three stone-trading centres, is trying to bring back Zimbabwean diamonds, which have long been under sanctions.

Free access Entourage 27.07.2023

Russia
Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Unable to buy Russian diamonds due to US and EU sanctions, jewellery companies are looking for other options to help them play by the rules and polish up their reputations with clients.

LogoSubscribers only Houses 29.06.2023

Russia, Switzerland, Turkey
Lifting the lid on the Turkish venture that allows Lacoste to sell in Russia

To continue selling to the Russian market despite EU sanctions, Lacoste operates via a Turkish intermediary. But a closer look at who owns the third-party company reveals it is far from an independent go-between.

LogoSubscribers only Houses 22.06.2023

France, Russia, Turkey
Lacoste sidesteps sanctions to keep sales in Russia afloat

The brand with the iconic crocodile logo denies that it still sells its products in Russia. But, to avoid a drastic decline in sales, one of its partners does so on its behalf.

LogoSubscribers only Houses 15.06.2023

Document | Russia, United States
De Beers and Russian diamonds: Following up on our revelations

Since Glitz.paris disclosed that De Beers sold Russian stones in the United States in 2022, the diamond giant has fiercely denied it - letting slip some revealing information in the process.

LogoSubscribers only Houses 08.06.2023

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers claims to source its diamonds only from Africa and Canada, but last year it sold stones of Russian origin in the United States. The firm also bought diamonds in 2022 from the Russian firm Alrosa via an Israeli company.

LogoSubscribers only Houses 25.05.2023

Russia, United States
Looming Russian diamonds' embargo fails to take shine off sales of its coloured stones

US diplomacy has been pushing to get the G7, which is about to meet in Japan, to discuss a sanctions plan on Russian diamonds. Whatever the outcome of these talks, one thing is certain: emeralds mined for Moscow will continue to be sold freely.

Free access Entourage 18.05.2023

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Luxury goods were among the first sectors to be affected by sanctions against Russia.

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How luxury navigates the war in Ukraine

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