According to Anush Gasparyan, commercial director of Fashion Consulting Group, the explanation for the trend is quite simple. Over the past year the yuan exchange rate against the ruble has almost doubled. Moreover, there is a very high tax on luxury goods in China and the prices for them are almost 70% higher than in Europe.
"So it would be logical to assume that buying luxury goods [in Russia] has become more advantageous for residents of China," Gasparyan said.
"On the Internet, one can buy these products at European prices via online retailers which have proven to be reliable," Gasparyan explained.
Russian entrepreneur Vladimir Verbitsky also confirmed that the increased demand for luxury goods, and especially for luxury cars, is quite understandable.
"In Russia, cars are now cheaper than anywhere else in the world," Verbitsky said. "Before the crisis, a car cost one million rubles which was equivalent to 28 thousand dollars. Recently, the car price has risen up to 1.25 million. And this is only 16 thousand dollars. Thus, the benefits are evident."