Russian clothing and footwear market sags 40%
13 May 2015 (13:29)
May 13, 2015. The Russian clothing and footwear market sales plummeted by 42% (in volume terms) in the first quarter of 2015, Vedomosti refers to Y-Consulting analysts as saying.
Sales decreased most in the medium-priced segment, since companies purchased all the new collections when the euro and dollar exchange rates were at their highest against the ruble. As they all operate on minimum profitability levels, there is no way for them of reducing the retail prices considerably, says Y-Consulting Director-General Daria Yadernaya.
Despite the ruble growing relatively stronger and more stable, clothing and footwear sales went down by 53% (in units) and by 21% (in money terms, that is, down to 142bn RUR) in April 2015.
Sales decreased most in the medium-priced segment, since companies purchased all the new collections when the euro and dollar exchange rates were at their highest against the ruble. As they all operate on minimum profitability levels, there is no way for them of reducing the retail prices considerably, says Y-Consulting Director-General Daria Yadernaya.
Despite the ruble growing relatively stronger and more stable, clothing and footwear sales went down by 53% (in units) and by 21% (in money terms, that is, down to 142bn RUR) in April 2015.
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