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Russia is among fastest growing luxury markets
21.05.2012 09:32
Russia is among fastest growing luxury markets

Russia, India and China are ranked the fastest growing luxury markets in the world, informs The Vedomosti, referring to the Luxury Goods Worldwide Market Study by the business advisor Bain & Company. The growth sales in theses counties is expected to reach 18-20%.


The annual sales of luxury goods in Russia vary from 5 up to 7 billion Euro. It is rather impossible to estimate it correctly in the country as the key players do not disclose their rates.


The Russians prefer to buy the most amounts of luxury goods abroad. Still there is a tendency to transfer the luxury consumption into the inner market, what will let to announce 70% of consumption at the home market in the recent years.


According to the March survey by McKinsey, alcoholic drinks, such as Vodka for more than $70 for a bottle and other alcohol for more than $80 for a bottle, takes 45% of the luxury sales in Russia.


Clothes takes 36% of the luxury sales in Russia, the share of jewellery, watches, electronic devices is just 3%.



Author: Irina Fomina

Tags: Russian business     

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