After the departure of foreign companies from the Russian Federation, sales in fashion retail grew by 10-15%
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After the departure of foreign fashion companies from the Russian market, retail sales increased by 10-15%, while prices increased by 30%, informs Forbes, citing Fashion Consulting Group (FCG) data.
According to FCG, in 2022, sales of clothing stores of the Sportmaster group of companies, Gloria Jeans, Melon Fashion Group, Familia, Kari grew by 10-20%, sales of discount chains grew by 15-25%.
FCG CEO Anna Lebsak-Kleymans said that prices for clothing, footwear and accessories increased by 30% in 2022, including for budget brands. The reason for this was the difficulties with logistics, production and personnel – in particular, the growth of salaries of seamstresses, experts explain.
Against the backdrop of a special operation that began in February 2022 and problems with logistics, the Inditex group, one of the world’s largest clothing and footwear retailers, announced in March 2022 that it was closing its stores in Russia. On the Russian market, the group was represented by Zara, Zara Home, Pull & Bear, Bershka, Massimo Dutti, Stradivarius, Oysho, Uterque stores. At the same time, the Swedish retailer H&M ceased operations in the Russian Federation, and in June announced its withdrawal from the market. Due to the departure of foreign companies, Russian Sela, Gloria Jeans and others expanded their retail space
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