‘Panic Buy’ Luxury Goods in Russia Now

Canada, the European Union, Japan, New Zealand, Taiwan, the United Kingdom, and the United States unveiled a series of sanctions against Russia targeting banks, oil refineries, and military exports. Surprisingly, Fifa games are even banned in Russia now, and as if that wasn’t enough. Now, High-fashion brands Chanel, Louis Vuitton, Gucci, Hermès, Prada, and Burberry all announced they are temporarily discontinuing business in Russia. Prada shared the announcement yesterday on its LinkedIn. "From today, the Prada Group suspends its retail operations in Russia.
Others Big and luxury Brands are in the rush to close their stores in Russia and as a result, everyone is rushing in to buy items so as not to lose on the sales when these brands are finally out of Russia.