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Large Foreign Companies Showed the Worst Results in Entering and Leaving the Russian Market in 2018
8.02.2019 12:05
Large Foreign Companies Showed the Worst Results in Entering and Leaving the Russian Market in 2018

In 2018, large foreign companies showed the worst results in entering and leaving the Russian market, Kommersant reports, citing a Knight Frank survey.  Thus, 12 large foreign networks left Russia in 2018 (eight in 2017), and 24 new brands entered the market (37 a year earlier).

      The activities of foreign brands in Russia are influenced by the fall in real incomes of Russians, as well as the active development of commerce on the Internet and changes in consumer demand, which is associated with a change of generations. “Not all brands managed to adapt to the new conditions and propose a new format of interaction with customers at the global level ... Therefore, even such giants as Sears, Payless, BCBG are going bankrupt,” as the director of the department of commercial premises of CBRE Marina Malakhatko notes.

      Top Russian Fashion Designers - Buy Online

      “Low activity in the investment market, a decline in the interest of Western brands to Russia - all this stimulates the domestic market, gives impetus to the development of new concepts,”  Evgenia Hakberdieva, director of the retail real estate department at Knight Frank comments. Now, the format of pop-up-spaces is becoming more and more popular - small platforms in shopping centers that are allocated for temporary trade, for example, to present a new collection or collaboration.


Author: Anna Dorozhkina

Tags: Russian business Russian trade Russian companies   

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