Even Putin could probably find a sneaker that he likes inside Nike's (NKE - Get Report) new Moscow store.  

The sneaker giant cut the ribbon on Sunday to a massive 23,455 square foot, five-story store in the Russian capital. Similar to other Nike flagship stores, the Moscow location features a Nike+ Running Trial Zone, Nike+ Football Trial Zone and areas for product customization such as engraving (some pictures below). There is even space for a person to get their shoes cleaned, while the second floor is mostly dedicated to limited-edition sneakers. 

Interestingly, Nike's glitzy new store comes as Russians are struggling to buy sneakers amid poor economic conditions and rising prices. 

Russians are only buying about 2.5 pairs of shoes a year, according to a recent study by Russia's Fashion Consulting Group that was first reported by Newsweek. Most Russians are wearing sneakers until they can no longer be used before buying new ones. In large part, that reflects Russians being forced to spend about 50% of their money on food, leaving little room to buy pricey sneakers.  

Under President Putin, points out Newsweek, Russia's economy has seen real income decline for three straight years. Russia's GDP plunged about 40% from 2013 to 2015 due to the rout in oil prices. Last year Russia's GDP declined by 0.6%.

 

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