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Russia still a major market for international retailers

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Apparel Online India November, 16-30, 2016

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Local retailers look at Asia for sourcing

Since the past few years, Russia has been facing challenges such as lower oil prices, the dwindling rubble and international sanctions for annexation of Crimea, resulting in real incomes falling since 2014, and poverty in the country is expected to return to 2007 levels this year. But the Saint Petersburg Economic Forum, a three-day event aiming to help Russian businesses connect with the rest of the world, provided the much needed relief to the challenge-stricken Russian economy. In the meanwhile, apparel and footwear specialist retailers accounted for an 11 per cent share of value sales in non-grocery specialists in Russia in 2015, and it was one of the most dynamic channels for growth today. According to the latest figures, the…

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Source: Apparel Online India November, 16-30, 2016
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