All apparel and footwear stores were closed from 30 March to 1 June 2020, in accordance with government orders to stop the spread of COVID-19. As a result, designer apparel and footwear (ready-to-wear) is negatively impacted in 2020.
Players operating in designer apparel and footwear (ready-to-wear) are under the pressure of a weakened Russian ruble in 2020. The majority of designer apparel and footwear (ready-to-wear) is imported, so unit prices are directly dependent on currency exchange rates.
Mercury Group maintained its unchallenged lead in designer apparel and footwear (ready-to-wear) in 2019, thanks to the player’s myriad designer brands which it distributes in Russia. Brands include leading luxury names, such as: Dolce & Gabbana; Gucci; Burberry; Armani Jeans; Bottega Veneta; Giorgio Armani; Ralph Lauren; and more.
There are no prerequisites for the rapid restoration of real disposable incomes of Russian consumers over the short-term forecast period. As a result, low consumer disposable incomes will continue to negatively impact consumer demand in designer apparel and footwear (ready-to-wear) in 2021-2022, undermining its performance.
Players are set to continue developing e-commerce channels over the forecast period, enhancing search engine optimisation for their online stores, as well as improving delivery services and simplifying merchandise returns.
The recovery of designer apparel or footwear (ready-to-wear) depends strongly on the epidemiological situation in both Russia and the rest of the world, due to the myriad factors negatively impacting the category due to the event of COVID-19. Factors to recovery will need to include the emergence of a safe and effective vaccine, along with special measures implemented by the state to control the spread of the mutating strains of COVID-19.
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Understand the latest market trends and future growth opportunities for the Designer Apparel and Footwear (Ready-to-Wear) industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Designer Apparel and Footwear (Ready-to-Wear) industry in Russia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
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