ROME, July 8. /TASS/. Stefano Ricci, the Italian brand of deluxe menswear and accessories, continues working in Russia and is not going to leave the Russian market, CEO Niccolo Ricci told TASS.

Revenues in Russia plunged by about 40% but this is mainly due to restrictions imposed by the EU on exports of deluxe products, he noted. "I traveled to Russia. Apart from some French brands, the others are working and we do not close and are not going [to do that]," the chief executive said. Sales in the company’s boutique in Dubai increased significantly at the same time largely on account of Russian clients.