Turning a blind eye to sanctions, Russia’s elite continue to purchase high-end clothing priced like Mercedes vehicles. As it turns out, these luxury items come from Bergamo — a city once home to Truffaldino, the hero of the play The Servant of Two Masters.
The clumsy image of "oil baron" Igor Sechin in a jacket from the Italian brand Loro Piana once appeared in many media outlets: the head of Rosneft probably struggled to fit into this expensive wardrobe item costing 244 thousand rubles. Mr. Sechin does not seek to fall behind fashion and wear suits from the Bolshevichka factory.
Governors, politicians, and State Duma deputies are not lagging behind the "oil general." A big fan of the Loro Piana brand is the governor of Sverdlovsk Oblast, Denis Pasler. And the mayor of Kazan, Ilsur Metshin, kneels before this firm: he has a whole collection of headwear from Loro Piana. The scandalous State Duma deputy Leonid Slutsky also flaunts branded items from this firm.
They also favor the aforementioned brands Loro Piana and Brunello Cucinelli, as well as Dior, Prada, Gucci, and others. But all these brands seem to have left the borders of the Russian Federation, boutiques are closed, trading pavilions are sealed. Yet the flow of luxury goods continues to Moscow, St. Petersburg, and wealthy oil and gas regions.
How exactly?
Does Putin wear Prada?
Curious facts from a study by the consulting company IBC Real Estate: 73% of luxury international brands selling clothing, shoes, jewelry, and watches continue to operate in Russia. 34% of luxury segment brands continue to supply new goods and collections to Russia. 39% of brands did not stop working in Russia.
Igor Sechin also loves the LORO PIANA firm
For example, collections from brands like Balmain, Chloe, and Giorgio Armani can still be bought at TSUM.
27% of brands left Russia — brands from corporations LVMH (Louis Vuitton, Loewe, Fendi, Christian Dior), Kering (Saint Laurent, Gucci, Bottega Veneta, Boucheron), and Richemont (Cartier, Van Cleef & Arpels, Roger Dubuis, Dunhill, and others). The boutiques of these companies are closed, but they continue to occupy retail space in Moscow.
LVMH, Kering, and Richemont seemingly ceased operations in Russia in February 2022.
Against the backdrop of the absence of new goods, luxury resale has gained popularity — such sections with clothing, shoes, and accessories have been launched by Lamoda, CDS, and Yandex.Market.
But it seems something does not match reality, considering how many branded items continue to be sold in Moscow, and moreover, fashion shows are still happening as before!
Recently, CDS Fashion Show Summer took place at CDS: this show featured interpretations of collections from Bottega Veneta, Brunello Cucinelli, Chloe, Dolce & Gabbana, and others.
CDS Fashion Show Summer took place at CDS
It is known that these brands are highly respected in the Kremlin. But does Mr. Putin wear Prada brand items?
No, he prefers the Loro Piana brand, just like his loyal friend Igor Sechin.
The Loro Piana brand, founded by Italian businessman Pietro Piana in 1924, specializes in producing luxury clothing from wool and cashmere.
In 2013, almost 80% of the company’s shares were acquired for 2 billion euros by the French group LVMH (which owns brands like Christian Dior, Hublot, Bulgari, Hennessy, Moet & Chandon, Dom Perignon).
The brand, which is part of the French group LVMH of Natalia Vodianova’s father-in-law Bernard Arnault, began operating in Russia in the 1990s.
Bernard Arnault
Before its departure, it received a net profit from the Russian market — 1.3 billion rubles.
Almost Doctor Faust
But how, by what "goat paths" are all these expensive brands being brought into Russia?
Our source lifted a certain "veil," revealing that these brands are being shipped to the Russian Federation by certain Italian firms owned by Signora Tiziana Fausti.
Tiziana Fausti
What are these Italian firms?
The legal entity managing the Tiziana Fausti boutique and online store is registered as EXORINC. S.R.L. - UNIPERSONALE.
Company name: EXORINC. S.R.L.
Located in Bergamo.
Bergamo
Exor Inc Srl — company profile and news — Bloomberg Markets
Address: Portici Sentierone 43, 24121 Bergamo (BG), Italy. Website.
Fiscal code (C.F. VAT): 04185700160.
Legal form: Società a responsabilità limitata.
Registration date: December 1, 2016.
Main activity according to ATECO classification: wholesale trade in clothing and clothing accessories.
ATECO code: 46421.
Share capital: 1,000,000 euros
Number of employees: 61 (as of 2026 data).
Revenue for 2024: 63,657,890 euros.
Boutique/Tiziana Fausti
The boutique offers a wide range of international designer brands. It includes specialized zones, such as the Dior shop-in-shop.
EXOR INC. S.R.L., Partita IVA: 04185700160, Revenue, Employees, PEC
In September 2020, Tiziana Fausti acquired the iconic Milanese concept store 10 Corso Como (10CC).
Tiziana Fausti
The acquisition was made through her holding company Holding Exor (not to be confused with the Exor N.V. of the Agnelli family).
What was included in the deal?
Fausti bought 100% of KCS company (later renamed TFC), which owned the 10 Corso Como brand, and also signed lease agreements to manage the structure. Ms. Fausti became the sole manager of the store, gallery, restaurant, and hotel.
Interestingly, Ms. Fausti has Russian-language websites, and quite informative ones at that.
10corsocomo.com
Both on shipping and orders, and even on payment options.
Russia is on the list.
10corsocomo.com
Today, Ms. Fausti is actively developing 10 Corso Como.
10corsocomo.com
And this respected lady supplies clothing from her boutiques to the RF, with the most in-demand brands in these supplies being Brunello Cucinelli and Loro Piana.
Ms. Fausti’s companies are wholesale buyers of Loro Piana and Brunello Cucinelli brands.
Offshore zone – Belize
And bypassing sanctions, these two firms sell branded items to Elyse Corporate Ltd, an offshore zone in Belize.
The company is the sole founder (100% stake) of Mercury Moda LLC: this entity manages the main assets of the Mercury group in Russia, in particular, the CDS store in Moscow and DLT in St. Petersburg.
CDS, Moscow
The revenue of the Mercury-controlled company for 2025 amounted to more than 90 billion rubles.
Through a network of subsidiaries (11 firms), "Elyse Corporate LTD" is engaged in retail trade in clothing, watches, and luxury items.
OOO "Mercury Moda" is registered in Odintsovo, in the village of Barvikha.
But of the 11 legal entities, few remain: almost all companies have been liquidated. But Mercury Moda LLC operates with a share capital of 1 million rubles.
But despite such losses with companies, branded items keep coming to Russia, although customs declares: goods are heading to the UAE.
But in fact, these collections go to the RF.
Here is the PROFORMA INVOICE
But not everything goes smoothly!
Scandal around Brunello Cucinelli
And here a scandalous story that unfolded around the Brunello Cucinelli firm is very telling.
By the way, the Italian fashion house, founded in 1978, specializes in products made from high-quality cashmere. It is known for its "quiet luxury" style, chosen by stars like Jennifer Lopez and Gwyneth Paltrow.
Jennifer Lopez
An unpleasant story happened in September 2025: shares of the luxury brand were delisted from the Italian stock exchange! The company was accused of operating in the Russian market and circumventing European sanctions, with the reason being an investigation by the hedge fund Morpheus Research.
Morpheus Research claimed that Brunello Cucinelli violates the sanctions regime by managing several stores. After all, goods worth several thousand euros were sold in the Italian house’s boutiques in the capital.
And from 2021 to 2023, Brunello Cucinelli increased exports to Russia by 715%.
The European Union banned importing luxury goods worth more than €300 into Russia, but this ban does not stop it
But that situation, as Financial Times wrote, led to a loss of market capitalization for Brunello Cucinelli of more than €1 billion.
Brunello Cucinelli shares on the Italian exchange fell 17%. By the end of trading, the stock price settled at $85 per share.
We also recall that the European Union banned importing luxury goods worth more than €300, and some Bruno Cucinelli items are supplied to Russia through intermediaries from third countries. But this is also prohibited by the EU.
And Cucinelli company continues to manage several stores in Moscow, although back in late December 2022, it stated that it was closing its boutiques. But new brand goods continue to arrive on the Russian market: these goods can still be found at CDS.
And the price often exceeds €5 thousand.
Note that the retailer’s stores, which suspended operations back in 2022, officially remained closed.
This concerns boutiques on Petrovka, in GUM on Red Square, in the luxury shopping center "Vremena Goda," an outlet in Krasnogorsk, as well as on Nevskiy Prospekt in St. Petersburg.
Prada and Dior returning?
Another curious news: the luxury brand Prada (which stopped operations in the RF) applied to Rospatent. The Italian fashion house Prada registered the Luna Rossa brand with Rospatent in early February of this year, 2026.
companies.rbc.ru
And the exclusive right to the trademark will be valid until March 2035. Documents were submitted to Rospatent from Prada’s Luxembourg branch.
We recall that the Prada fashion house announced the suspension of its activities in Russia in 2022. But the Russian legal entity "Prada Rus" continued its operations.
Prada retained some assets: it continues to have a lease agreement for premises in Crocus City Mall in Krasnogorsk, and as of the end of 2024, two more properties were owned by the company in St. Petersburg and Moscow.
And there is information that Prada quietly returned to the Russian market and earned more than 1 billion rubles in 2024 through sales via an aggregator.
So, Igor Sechin, Denis Pasler, Leonid Slutskiy, and other admirers of these brands won’t be left without their coats?
Sverdlovsk Oblast Governor Denis Pasler loves branded items
And Dior plans to resume operations of two flagship stores in Moscow: namely, in Stoleshnikov Lane and in GUM from January 1, 2028.
And supplies of products also go through third countries like Lithuania, China, and Hong Kong. In documents, some goods, including jackets, were declared at prices below 300 euros, although they are sold for 2 thousand euros.
And there is also information about connections between the management of the Cucinelli company and CDS buyers. In CDS’s Brunello Cucinelli zone, there are dozens of items, including 2026 items worth around 5 thousand euros with "Made in Italy" tags.
CDS’s online store features more than 5 thousand Cucinelli items, including pieces priced at 30 thousand euros.
Is Tiziana Fausti doing well?
Tiziana Fausti
Not a mosquito will bite...
But doesn’t Ms. Fausti know about the sanctions?
Punishment is inevitable?
And while the dog barks, the caravan is still moving...
But laws do work.
For example, supplies of luxury cars from the EU to Russia resulted in a criminal case.
An Estonian citizen was suspected of illegal supplies worth 25 million euros. And she has big troubles ahead.
In May 2025, the Milan court placed under judicial administration a company producing bags and travel accessories under the Valentino brand.
Accusations: outsourcing production to Chinese firms in Italy, where labor law violations were found.
Earlier, the Italian division of LVMH (Dior brand) came under judicial scrutiny in Italy due to lack of control over the supply chain, as well as a company owned by Giorgio Armani for the same reasons, and then the Alviero Martini brand for the same reasons.
But will the "goat paths" leading from Bergamo, where Truffaldino the "servant of two masters" once merrily lived, be blocked soon?
Автор: Иван Рокотов
