Rental rates will translate into rubles
31.08.2015 4034

Rental rates will translate into rubles

The Ministry of Industry and Trade has prepared a bill prohibiting the setting of rental rates for retailers in foreign currency. 

 "In many ways, large shopping centers and street retail representatives nominate rental contracts for non-residential premises in foreign currency, while the entire chain of settlements to the end user is made in rubles. Risks from currency rate fluctuations fall entirely on tenants. In our opinion, this is unfair and is a rudiment 1990s, "- said the Deputy Minister of Industry and Trade Viktor Evtukhov.

According to him, the amendments are now undergoing the procedure of approval and discussion. The new bill was created for the benefit of retailers. "The destabilization of the ruble has turned into problems for industry participants, often threatening bankruptcy. Whereas previously companies had rental costs of 15-20% of revenue, after the denomination they doubled and began to reach 20-40%."

The authors of the bill suggest that foreign investors may oppose the legislative initiative, as this will prevent them from making and planning investments.

The Ministry of Industry and Trade has prepared a bill prohibiting the setting of rental rates for retailers in foreign ...
5
1
Rating

Latest News

Analysts at the Honest Sign system report an increase in sales of felt boots, ugg boots, and mukluks.

According to the Honest Sign, a system for monitoring goods subject to mandatory labeling, sales of faux- and real-fur felt boots—ugg boots and mukluks—have increased 2,2-fold, with 836 sold since the beginning of the year.
07.11.2025 366

PUMA's revenue in Q3 2025 fell by 10,4%.

Puma reported a 10,4% decline in revenue for the third quarter of 2025 to €1,96 billion, due to a strategic reset.
07.11.2025 364

The number of retail projects in the fashion segment is declining

According to NF GROUP, in the first nine months of 2025, only six new players developing retail businesses entered the Russian fashion sector. This is half the number seen last year…
06.11.2025 513

The Lamoda x Hikes collaboration featuring Ilya Kutoboy has been released.

Lamoda and Russian brand Hikes have launched a collaboration and invited artist Ilya Kutoboy to collaborate.
06.11.2025 657

Footwear price growth in 2025 will remain at the level of inflation

Price increases for footwear and clothing in Russia for the first three quarters of 2025 were in line with inflation – 6% and 9%, respectively, Kommersant reports, citing analysis from the My…
06.11.2025 697
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning