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Lux is losing ground in Russia
22.05.2015 4196

Lux is losing ground in Russia

Luxury sales continue to fall. Luxury is losing ground in Russia as well, according to a study by the consulting company Bain & Co.

In the first quarter of 2015, the luxury goods market grew by 2-3%. At the same time, company analysts forecast growth during the year by only 2-4%. This is primarily due to the fact that the unstable exchange rate negatively affected tourist flows and, accordingly, sales in general.

As for Russia, in all shopping malls, where manufacturers of luxury goods are represented, the flow of buyers is decreasing, according to Kira Balashova, COO of Jamilko Group.

At the same time, as Balashova notes, it cannot be argued that the Russians completely abandoned the suite. The situation was such that retailers are trying in every way to capture the interest of the buyer. Because of this, the prices of goods for the spring-summer 2015 season were reduced as much as possible. Sometimes they are even smaller than European ones, the expert concludes.

Luxury sales continue to fall. Luxury is losing ground in Russia as well, according to a study by the consulting company Bain & Co.
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