Longchamp reverses course in Russia
The Russian division of French leather goods brand Longchamp went into liquidation on July 3, after its 135 m2 flagship inside Moscow's GUM department store closed down at the end of June, according to local media. Longchamp was contacted by FashionNetwork.com in Paris, but has declined to comment.
According to Russian business daily Kommersant, Longchamp will only have a digital retail presence in Russia, via its e-shop. Longchamp’s Russian division was created in 2014, when the brand took over the business of two long-established franchisees in Moscow and St Petersburg. A second store opened in the Russian capital in 2017.
In 2019, the division reportedly generated a revenue of €3.28 million (RUB263.4 million), but suffered losses for €260,000. The lockdown imposed in Russia in the spring, and the slow recovery that followed, put the company’s cash flow under severe pressure. A problem that isn’t felt in Russia alone, since Longchamp recently closed down its Madrid flagship, according to Spanish news site El Confidencial.
Last year, Longchamp adopted a new monogram logo as it launched the Longchamp LGP urban line. In the autumn, the brand secured a slot in one of Milan’s most coveted high-footfall locations, the covered passage linking Piazza Duomo with the La Scala opera house, where it opened a 95 m2 store.
Last February, Longchamp’s Creative Director Sophie Delafontaine unveiled a memorable collection in New York, a fresh take on the brand’s 70s style. Longchamp is currently said to employ over 3,000 people, nearly half of whom are working in France.
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