Among the retailers making their Russian debut in 2015 were Tsumori Chiasto, MCS, Malo, Nelva and Henry Cotton's. Overall, the most significant proportion of these newcomers – some 25 per cent – came from Italy. Balanced against these arrivals, however, was the departure of number of familiar names from the Russian High Street. In total, 11 retailers exited the market, primarily those in the clothing, footwear and accessories sectors. These closures were headlined by several British retailers, most notably Laura Ashley, New Look, Esprit, OVS and River Island. Another high profile casualty came in the form of Finland's Stockmann Department Stores, which sold its retail operation to Debenhams' Russian franchisee. Sadly, the more recent news has also been less than reassuring. Finland's Kesko Group has announced it is to sell its Intersport sporting goods and sportswear stores. While the company has been developing the brand as a licensee in Russia for several years now, it has pulled out following falling sales and increased competition from two rival chains – France's Decathlon and Russia's Sportmaster. In a similarly disappointing move, UK-owned Monsoon Accessorize has sold its Russian operation to Podium Market, a domestic fashion and accessories retailer. Despite these mixed signals, a number of commentators see this as the ideal time for new brands and overseas retailers to enter the Russian market. This could see such operators take advantage of the depressed property market and the competitively priced promotional and logistics support available across the country. In terms of an added incentive, hard-pushed Russian consumers are said to be extremely open to new – but competitively-priced brands. (SH)
Fibre2Fashion News Desk – India
Textiles | On 8th Mar 2021
In a major step towards recycling, scientists at Sweden’s Lund...
The textile testing service provider Hohenstein has developed its own ...
Textiles | On 6th Mar 2021
The Office of the United States Trade Representative recently...
Rajiv Sirohi Shara
‘Portugal is taking away a major share of the mill made sector.’
Footwear industry Head honchos
There is rising demand for fancy, trendy and yet comfortable footwear
Textile Industry Head honchos
There's lot more potential in women than what we are witnessing today
Riddhi Jain
Conceived in Europe and curated in New Delhi, NeceSera is a...
Rikesh Mistry
Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...
Ritu Oberoi
Established in 2018, Forsarees is a socially driven business enterprise,...
Paige Mullis Glen Raven Inc
Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...
Silverio Baranzano Fitesa
Fitesa is a leader in the nonwoven fabrics industry, specialising in...
Lynda Kelly Suominen Corporation
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Seema Agrawal Artisan Saga
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Vaanee Bhatia Gritstones Clothing
<div>Delhi-based Gritstones Clothing offers quality and exemplary style...
Sonam & Paras Modi SVA
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.