Russia Made in Italy +15% the first eight months of 2016

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    From Moscow  the first  significant positive signs  which give hope to a recovery in demand for the Made in Italy.

    According to the data revealed by Pier Paolo Celeste, director of Moscow  Ice office, Fashion imports from Italy to Russia increased of the 15,6 % in the first eight months of 2016.  “There is, in general, a   ‘revamping’ in Russia, from the  stores refurbishment to the events relaunch ”, confirmed Celeste and the statement came after the long list of Italian and foreign brands that have opened or are about to open new stores,  mainly in the capital. The scenario  is  studied in depth  by Pambianco Magazine in the article dedicated to the Russian Federation market just published. 

    There are several factors behind this turmoil in a  Country that until recently was one of the most problematic markets for the Made in Italy. First of all the greater availability of location in the capital key- streets. Moreover, for the  Moscow retail, the present seems to be  a good moment: a   study of  JLL, a consulting company specialized  in real estate services, confirms that in  the third four month period  of the year the percentage of vacant stores in  Moscow  high streets fell of the  2,8% arriving at the  10,2 %. It is the best result since the beginning of 2014. To this it is then added the policy of some retailers to align their prices to  the Italian ones, renouncing to a part of their profit, and finally the  increasing of the local tourism which goes this way  to counterbalance the decline of luxury shopping generated by Russian tourists abroad (-37% in 2015 in Europe). An aid to the growth in the domestic consumption in Russia could also arrive from Chinese tourists. In the first five months of 2016 it increased of the 63% according to the Federal Agency Data for tourism Rosturism.

    Pambianconews, 1/12/2016