The number of retail projects in the fashion segment is declining
06.11.2025 1490

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 the retail direction appeared in the Russian fashion segment: Gaissina (Kazakhstan), Emiliano Zapata (Italy), Kappa (Italy), Les Benjamins (Turkey), Mua (Belarus) and Guess Jeans (USA). This is two times less than the year before.

Meanwhile, 12 companies have decided to close their retail projects. These include I am Studio, Inspire Girls, Etam, Yollo, Prav.da, Mudo, Mellow, Deseo, Incity, and Just Clothes.

O'stin has decided to close its youth brand Face Code, and Gloria Jeans has discontinued its teen clothing brand Ready! Steady! Go! Both projects were launched in 2024, but their target audience has largely shifted to the online space, making further development of these areas economically unviable.

"The Russian retail real estate market has undergone significant changes over the past year. Increased tax burdens on businesses, declining purchasing power, and the growing share of online retail, coupled with the high cost of borrowed finance, are limiting retailers' ability to launch new brands and develop existing businesses," says Evgeniya Khakberdieva, Regional Director of the Retail Real Estate Department at NF GROUP. "Based on the results of the first three quarters, we've seen a more restrained interest in the Russian market from international companies, which is impacting their expansion plans. At the same time, Russia remains one of the largest sales markets, and as economic pressure eases, we expect a gradual recovery in interest from foreign brands."

 

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…
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