TASS reported that according to data from the Russian Federation Intellectual Property Office, the Gucci trademark registration dossier was submitted by Guccio Gucci (Italy) on June 2, 2023 and completed on February 18, 2025. This allows the famous Italian fashion brand to continue producing and trading typical products such as clothes, handbags, shoes, jewelry, cosmetics and even household appliances in Russia.
The move comes as many Western corporations have left the Russian market following the sanctions. However, Gucci seems ready for a new strategy.
According to the Russian Direct Investment Fund (RDIF), not only Gucci, many US companies are expected to return to the Russian market in the second quarter of 2025.
"It is expected that some US companies will return to the Russian market as early as the second quarter of this year," said Kirill Dmitriev, director of RDIF. However, the return of US companies will not be easy, as many market segments have replacements.
Since leaving Russia, US businesses have suffered more than $300 billion in losses, with the technology and communications industry suffering the heaviest losses of $123 billion, followed by consumer goods and healthcare (94 billion USD), finance (71 billion USD) and energy (10 billion USD).
Meanwhile, in Dubai, the wave of Russian brands continues to explode. In 2024, 19 Russian brands have set foot in this market, and about 20 other retailers are planning to join in the near future.
Famous restaurant chains such as Sakhalin, Frank by Basta, The Market Island Food Hall have opened in Dubai. Zolotoye Yabloko (Gold Apple) and L'Etoile cosmetics brands have also expanded their operations to Abu Dhabi, Sharjah and Ras al-Khaimah.
According to Vladimir Kalikin from consulting firm once again, Dubai is waiting for more Russian fashion brands this year, signaling a major shift in the global retail map.
