Anna Sidorowicz-Pokrywka, Retail Analyst, PMR
Numerous Russia-based clothing and footwear retailers have not coped well with the recent difficult situation in the country’s economy, as evidenced by their dropping store counts. The weak rouble and low purchasing power have led to weakened consumer demand that has caused mainly domestic players to face serious financial problems. That has forced them to optimize their retail networks, primarily by closing the least-profitable stores. Among the largest domestic fashion retailers that have significantly reduced their store networks in the last two years are chains operated by Sportmaster and Melon Fashion…
PMR Insight: Domestic C&F chains reduce store counts in Russia while foreign retailers grow
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