- FashionUnited |
The fall of the Russian ruble has prompted Chinese shoppers to take advantage of cheaper luxury goods.
Chinese shopping agents who shop for Chinese customers abroad were quick to buy Russian products to avoid higher import taxes payable at the official retail channels in mainland China.
When the Russian currency slid over the last week at one point a Louis Vuitton bag in Russia cost just over half the price of the same item in China.
Although most companies have now repriced their products to reflect the currency changes the Chinese shopping agents were so quick to respond and many reportedly made sizeable profits.
One agent, who is studying in Moscow, told Reuters he had started selling luxury products last week online and has been making thousands of dollars a night.