Douglas Hand on What Russian Sanctions Mean for Fashion
Douglas Hand shared insights about how how sanctions against the import of luxury goods into Russia are affecting the fashion industry in a recent Business of Fashion article.
Now brands must contend with unwinding trading relationships and stepping up vigilance to ensure their products aren’t sold to a counter-party intending to ship to Russia. There’s also the thorny question of what qualifies as a luxury good, which requires careful analysis of each jurisdiction’s sanctions guidance.
“I think it’s gone from a constant yellow to red in terms of policing,” said Douglas Hand, a partner at Hand Baldachin & Associates. The firm has seen an increase in calls as a result of the new sanctions measures, though the volume of inquiries haven’t been as intense as when the pandemic first hit, Hand said.
You can read this BoF article here: What Russian Sanctions Mean for Fashion