×
58 871
Fashion Jobs
ADIDAS
Buying Manager, Brick And Mortar - Badge of Sport - Apparel/Hype
Permanent · Portland
ADIDAS
Senior Manager DPC Operations
Permanent · Portland
ADIDAS
Senior Analyst, Business Process Management
Permanent · Portland
ADIDAS
Manager Business Analyst
Permanent · Carlsbad
ADIDAS
Senior Finance Analyst fp&a
Permanent · Portland
ADIDAS
Manager Visual Direction
Permanent · Portland
ADIDAS
Senior Manager Product Supply Interface
Permanent · Portland
ADIDAS
Technical Manager Footwear Yeezy
Permanent · Los Angeles
ADIDAS
Manager, Wholesale Digital Activation
Permanent · Portland
ADIDAS
Senior Finance Analyst - Ctc
Permanent · Portland
ADIDAS
Manager Training dc Operations
Permanent · Spartanburg
ADIDAS
Operations Manager Inbound- Weekend Shift (Fri-Sun 7am-7:30pm)
Permanent · Spartanburg
NEIMAN MARCUS
Chanel, Sales Business Manager - Tampa Bay
Permanent · Tampa
NEIMAN MARCUS
sr. General Manager - Restaurants
Permanent · Atlanta
NEIMAN MARCUS
Analyst, Core Replenishment - Jewelry
Permanent · Dallas
MACY'S
Asset Protection Captain, Fresno Fashion Fair - Full Time
Permanent · Fresno
MACY'S
Asset Protection Detective, Culver City Center - Standard Part Time
Permanent · Culver City
MACY'S
Asset Protection Security Guard, Brea - Flex
Permanent · Brea
MACY'S
Asset Protection Detective, Dayton Mall - Full Time
Permanent · Dayton
MACY'S
Asset Protection Detective, Cross County - Full Time
Permanent · Yonkers
MACY'S
Asset Protection Detective, Streets of South Point - Full Time
Permanent · Durham
LULULEMON
Assistant Manager, Operations | The Mall at Short Hills
Permanent · Millburn
By
Fibre2Fashion
Published
Jun 14, 2016
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Russia new destination for leading global retailers

By
Fibre2Fashion
Published
Jun 14, 2016

In a first of sorts, more than 50 per cent of the world’s leading retail chains now operate in Russia. This has taken the country to an exclusive club of nations that command such attention from global merchandisers, with the existing members including the UK, the US, the UAE and China.



According to HKTDC Research, this is the second positive development for the country's beleaguered economy is as many months. Back in April, the World Bank predicted that Russia would return to growth – albeit by a modest 1.1 per cent – in 2017. In something of a caveat, however, it also forecast that the country's economy would shrink by a further 1.9 per cent in 2016 before tempered growth resumed.

A total of 52 global retail chains launched their first stores Russia in 2015. Forty of these outlets were opened in Moscow, with the remainder opting for one of the country's less expensive cities for their initial venture into the market. Regardless of location, it is believed that all of these retailers succeeded in renegotiating their rental terms to their own advantages by the end of last year. This was largely because the availability of commercial property still continues to considerably outweigh demand across Russia, the HKTDC Research report said.

Aside from Moscow, the most popular cities with multinational retailers proved to be St Petersburg, Yekaterinburg, Nizhny Novgorod and Samara. All of these cities are home to international standard shopping malls complete with globally significant anchor retailers, including Ikea (Sweden), OBI (Germany) and Auchan (France).

Among the retailers making their Russian debut in 2015 were Tsumori Chiasto, MCS, Malo, Nelva and Henry Cotton's. Overall, the most significant proportion of these newcomers – some 25 per cent – came from Italy.

Balanced against these arrivals, however, was the departure of number of familiar names from the Russian High Street. In total, 11 retailers exited the market, primarily those in the clothing, footwear and accessories sectors. These closures were headlined by several British retailers, most notably Laura Ashley, New Look, Esprit, OVS and River Island. Another high profile casualty came in the form of Finland's Stockmann Department Stores, which sold its retail operation to Debenhams' Russian franchisee.

Sadly, the more recent news has also been less than reassuring. Finland's Kesko Group has announced it is to sell its Intersport sporting goods and sportswear stores. While the company has been developing the brand as a licensee in Russia for several years now, it has pulled out following falling sales and increased competition from two rival chains – France's Decathlon and Russia's Sportmaster. In a similarly disappointing move, UK-owned Monsoon Accessorize has sold its Russian operation to Podium Market, a domestic fashion and accessories retailer.

Despite these mixed signals, a number of commentators see this as the ideal time for new brands and overseas retailers to enter the Russian market. This could see such operators take advantage of the depressed property market and the competitively priced promotional and logistics support available across the country. In terms of an added incentive, hard-pushed Russian consumers are said to be extremely open to new – but competitively-priced brands.

Copyright © 2022 Fibre2Fashion. All rights reserved.