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
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
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