LUXURY FASHION HANGS ON BY A THREAD IN RUSSIA
March 1st, 2010
BY MIRIAM ELDER
THE LUXURIOUS boutiques that line Stoleshnikov Pereulok (NOTE - SPELLING IS CORRECT), one of Moscow's premiere shopping streets, stand eerily quiet these days. Stern-faced guards appear to spend more time chatting on their mobiles than swinging open doors for the Russian capital's once teeming clientele.
As the rest of the world emerges, however slowly, from the global financial crisis, Russia can't claim to be so lucky. GDP fell by 7.9% in 2009, and is expected to grow by just around 3% this year. Other figures prove even gloomier - unemployment ...
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