Word: russianize
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...Paris collections last spring, veterans took note. They should have known: new luxury markets bring new editors into the fray, and the booming luxury-goods business in Russia has brought Evelina Khromtchenko, 35, to fashion's forefront. She's the clever editor in chief and creative director of the Russian edition of L'Officiel, a fashion magazine with 100,000 readers who can't get enough of Chanel, Dior and, lately, Ralph Lauren...
Born in Siberia, Khromtchenko moved to Moscow as a young girl and graduated from Moscow State University with a degree in journalism. At 17 she became the youngest broadcaster for Channel 1 radio and television and went on to write for Russian Cosmopolitan and Elle before forming her own p.r. company, which helped launch brands like Gucci and Valentino in Russia. Because of her TV and radio career, Khromtchenko has become famous in Russia. But she says that now, in addition to editing the magazine, she's just a talking head: "If someone wants to know about fashion or beauty...
Forget about stealth wealth. The Russian luxury consumer wants to flaunt economic status?whether buying fashion or fine jewelry. One telltale sign: the new Millionaire Fair, where vendors come to show off big-ticket items like helicopters, jewel-encrusted pencils and baby bottles made of gold. Analysts predict this market will grow at least 15% over the next five years...
...general, affluent consumers in Russia have the greatest top-of-mind awareness of foreign luxury brands compared with China and India because the Russian luxury market is more developed and more European in nature...
Homegrown When it comes to total brand awareness, Russian consumers are loyal to two local talents: Vyacheslav Zaitsev and Valentin Yudashkin. Although they both produce ready-to-wear and haute couture collections, Yudashkin is perhaps the closest thing Russia has to an international fashion celebrity, with shows in Paris, a boutique on one of Moscow's best-known streets, and lines of jeans, porcelain, fine jewelry and sunglasses...