Russian fashion brands replaced 85% of the space of departed foreign brands
Analysts at the consulting company NF Group note a change in the composition of key tenants in the capital’s shopping centers. After the departure of large international retailers (Swedish H&M and Japanese Uniqlo, which accounted for 79 sq. m or 000% of the space in 4 largest Moscow shopping centers), most of the rented space was occupied by Russian brands.
At the beginning of 2022, H&M and Uniqlo occupied 4% of space in top shopping centers in Moscow. The departure of these two brands, which attracted additional traffic to shopping complexes, was noticeable for both visitors and premises owners. Today, over 85% of retail space in the capital’s shopping centers, previously occupied by H&M and Uniqlo, has been taken over by Russian brands. They are occupied by retailers of three categories: “clothing/shoes” (78%), “products for children” (2,2%) and “entertainment” (2%).
Most of the space (39%) previously owned by Uniqlo was occupied by Gloria Jeans stores. The average rented area of the brand's stores increased to 1 sq. m. m, which corresponds to the retailer’s current development strategy. About 600% of the Japanese brand's space was occupied by the Lime brand. Just Clothes has a similar figure (22%), and the peculiarity of this Russian brand is that it has become an analogue of the Japanese player. Only 22% of Uniqlo space remains vacant in the Vegas Kuntsevo shopping center and other retail facilities.
The largest amount of space previously owned by Swedish retailer H&M was occupied by the Stockmann department store (27%). The average size of the objects occupied by Stockmann is 3 square meters. m. Gloria Jeans rented 300% of the space. Some H&M premises in the Kvartal W, Vegas Kashirskoye and other shopping centers remain vacant for now.
“The potential of Russian players operating in the clothing and footwear category continues to grow. Well-known companies have developed new store formats, launched additional product lines and taken an active position in the acquisition of retail space. Most of the premises have already opened, retailers can evaluate all the pros and cons of working in the conditions of new competition and adaptation of consumer behavior. We hope that in the future they will be able to work out all internal processes, set up the correct product matrix and continue active development, expanding the geography of their presence,” says Evgenia Khakberdieva, regional director of the retail real estate department of NF Group.
Analysts at the consulting company NF Group note a change in the composition of key tenants in the capital’s shopping centers. After the departure of large international retailers (Swedish H&M and Japanese...
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