Donatella Versace (sister of the late Gianni) says that, thanks to the success of Putinomics, Russian women aren't as tacky as they used to be:

A few weeks ago when I returned to Russia for the first time in a decade, I found it much changed. The arrival of more brands has transformed the retail landscape. When people have choice, they can decide what they like. Back in the Nineties there was little choice but now women can shop here in the same way that they can in Milan or London or Paris, and that has, of course, altered the way they dress.

But what really struck me was the way in which this choice is now being exercised. Gone is the tendency towards ostentation and “bling”. Instead, today’s Russian women are in search of something more sophisticated. At a cocktail party I held at my Moscow store, I was greeted by many extremely well-dressed customers; but two stood out. They had a great freshness and confidence, and were dressed in a modern and understated way. It turned out that they were the granddaughters of Mikhail Gorbachev.

Of course, grandpa Gorby prefers Louis Vuitton: