Erwan Henry, international business lecturer and consultant that we presented to you yesterday, organized a meeting with some students from Ural State University as well as some certified translators. It has been an interesting discussion about cross-cultural management in Russia, as we have been assigned a Russian student to talk to during an hour or so. This mix of a presentation by Erwan Henry, a discussion and a business case to solve with the Yekaterinburg students was very rich for us, as it allowed us to better understand the Russian business culture.
The key points that have been stressed during this meeting are that relationships are very important in Russia to do business, and that one that wants to invest in Russia really needs to take time to build those relationships.
This meeting was then followed by a visit to Zilli, a French company specialized in manufacturing luxury clothes and items and headquartered in Lyon. We visited a shop in Yekaterinburg, located in a mall where many luxury brands are already present (Louis Vuitton, Dior, Chanel, Cartier for example). We improved our understanding of how such a luxury shop can operate in Russia. Selling luxurious items, valued for several hundreds or even thousands euros, especially in Russia is not an easy task. However, the shop could manage to have revenues of 150,000€ a month, attracting the richest people from the region. Those people usually comes to the shop not only to find high-quality products, but also to buy the image of the French company.
The afternoon was dedicated to a city visit. We were thus able to discover the beauties of the Ural region during our 3 hour trip.
We went to see the monument erected where the border between Asia and Europe is. After this, we went to visit a typical Russian house, and then to a very beautiful religious monastery.
Finally, we visited the Cathedral on the blood, which stands on the site of the Ipatiev House, where the Romanovs, the last Royal Family of Russia, were murdered.
What a beautiful city! We have to admit that several Business Developers preferred Yekaterinburg over Moscow!