16 new foreign brands have appeared in Russia since the beginning of the year

Since the beginning of 2023, 16 new foreign brands in the clothing, footwear and household goods segment have come to Russia. This is a record since 2019, writes RBC with reference to data from the consulting company NF Group.

In 2019, 26 new brands from abroad appeared in Russia, after which the figure began to decline. In 2020, 13 companies came to the country, in 2021 – 15, and in 2022 – 11.

It is noted that most of the companies that have entered the Russian market are from Turkey. According to NF Group, nine such brands appeared in Russia in 2023; they belong to the “average” and “above average” price segments. Three more companies came from Belarus. Also in Russia there is a sportswear retailer from Australia and networks from Kyrgyzstan, South Korea and Estonia.

Since March 2022, 23 foreign companies have announced their departure from Russia, another 34 have rebranded and transferred Russian assets to other companies, according to NF Group data at the end of the first quarter of 2023. As a result, the volume of vacant space in shopping centers amounted to 14.5% . In 2022, 11 new brands appeared on the Russian market, including five from Turkey, two from China, and one each from the USA and Italy.

Against the backdrop of the start of Russia’s special operation in Ukraine, the largest fashion retailers and brands of household goods announced their withdrawal from the Russian market. Among them were Inditex (Zara, Oysho, Massimo Dutti chains), H&M (H&M, Cos, & Other Stories) and IKEA. Luxury brands also left Russia, including Chanel, Dior, Prada, Tiffany, Bvlgari, etc.