Diesel will close all of its Russian monobrand stores as of mid-March 2009.

“We decided to interrupt the relationship with our partner in Russia 18 months ago, with the last season being Fall/Winter 2008-2009, despite a good and profitable business with positive results,” said Renzo Rosso, President of Diesel.

“The decision has been taken in order to upgrade the brand positioning in one of the most important countries of the world, through the implementation of a strategy that has made Diesel successful in the USA, Western Europe and Asia.”

Following the termination of the agreement with Vintage Technology, Diesel could not say whether it has a new partner for expanding in Russia or whether it will handle the market directly.

—Maria Cristina Pavarini