From November to January, Italian exports to Russia and the countries of the former Soviet Union decreased by 12,2%, although 2013% growth was observed in 4 year, SMI cites such data.
In the first 11 months of the 2014 year, exports to Russia reached 620 million euros, which is 12,5% lower than the same period a year earlier.
Between January and October 2014, deliveries of Italian footwear to Russia decreased by 23,1% to 454,4 million euros. “Small and medium-sized businesses were particularly affected, as Russia was considered an easy market for expansion,” notes SMI President Claudio Marenzi.
“Compared to the USA, there are significantly fewer logistical problems here. Many Russian customers collect goods in Italy, paying 30% upon order and 70% upon delivery. It is obvious that now Russians are unlikely to be able to afford such a format, so Italian suppliers have to adapt and expand their presence in other markets, ”he added.
On the other hand, a decrease in the volume of deliveries to Russia was offset by an increase in deliveries to the USA, however, small Italian companies are hardly ready for such a radical turn. Many have adapted their assortment to the needs of Russians; they have no way to enter the complex American market.
Let us remind you that Russia is the third largest women's clothing market for Italy, after France and Germany. It accounts for 8,7% of total exports.