Russia – Since the beginning of 2024, 11 new international brands of clothing, shoes, electronics and household goods have entered the Russian market.
By the end of this year, regarding 20 new foreign brands may come to Russia, a source at the consulting company NF Group told TASS.
The source added: “Since the beginning of 2024, 11 new global retail companies from Turkey, China, South Korea, Italy, Spain and Germany have entered the Russian market, specializing in clothing, shoes, electronics and household goods. It is expected that up to 20 foreign brands will enter the Russian market in 2024.”
It is noteworthy that 9 out of the 11 new international brands opened stores in shopping centers in Moscow, and one each in Petersburg and Kaliningrad. Six of them are of Asian origin (China and South Korea). For comparison, in the fourth quarter of 2023, the Russian market was supported by seven new players, only two of which were Asian retailers.
In the first quarter of this year, at least three more brands, including French cosmetics company Panier des Sens, announced their intention to start operating in Russia.
The source added that stores of this brand are expected to be opened in major Moscow shopping centers such as Aviapark, Metropolis and Salaris.
Two clothing production companies (8 Seconds from South Korea) and (Semir from China) have also expressed their desire to start work in Russia, but they have not yet taken specific decisions in this field.
said Evgenia Khakberdieva, regional director of the retailer
“Russia remains an attractive market for international retailers, and if the structure of new brands consists mainly of Turkish operators in 2023, the market will be actively replenished in 2024 with brands from Asia,” said Evgenia Khakberdieva, a regional director at NF Group. To a TASS correspondent: “Russia remains an attractive market for international retailers, and if in 2023 the structure of new brands introduced to Russia consists mainly of Turkish operators, then in 2024 the market will be actively strengthened by brands from Asia.”
Source: TASS
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2024-05-07 07:38:29