NF Group: five foreign trade brands entered the Russian market in the first quarter of 2023
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In January-March 2023, five foreign trade brands entered the Russian market, reports Interfax with reference to the data of NF Group (former Knight Frank Russia). This is 45% of the total for 2022.
“Despite the influence of the geopolitical environment, the number of exits of new players over the three months showed a positive trend and amounted to almost half (45%) of the annual figure in 2022,” the study says.
According to NF Group, all five new players are retailers from Turkey in the clothing and footwear and home goods profiles. The price segments in which newcomers work are “average” and “above average”. It is expected that by the end of the year at least four new participants will appear on the Russian market.
At the same time, NF Group continues to see an active expansion of department store formats and multi-brand stores as part of malls and outlets.
Earlier, Kommersant learned about the plans of the owners of large shopping centers, left without key tenants after the withdrawal of Western brands from Russia, to place stores of their own brands on the vacated areas.
Read more about the plans of developers to develop their own retail – in the material “Kommersant” “Shopping centers will sew on their brands”.
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