New Market Report: Apparel and Footwear Specialist Retailers in Russia

Apparel and footwear specialist retailers accounted for an 11% share of value sales in non-grocery specialists in Russia in 2015, and it was one of the most dynamic channels over the review period. However, accelerating economic tension and the weakening Russian currency negatively impacted the development of the channel. This was due to the fact that a significant share of apparel and footwear, as well as raw materials, is imported from abroad. Devaluation of the local currency and Western sanctions led to higher prices for imports, and retailers were forced to optimise their production costs by reducing the cost of goods, using cheaper but poorer quality raw materials, simplifying the production process and ensuring localisation. Large players operating in apparel and footwear specialist retailers focused on increasing the quality of the products they offered over the review period. However, in 2015 companies started to concentrate on price competition rather than on the quality of products.

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Competitive Landscape

Centrobuv remained the leading player in apparel and footwear specialist retailers in Russia in 2015, with a 5% value share. In spite of the fact that the company started to slowly lose value share from 2012, it still managed to maintain the leading position in the channel due to its strategy, which was in line with the current economic situation in the country. It offers footwear at lower prices, and operates through two brands, Centro and TsentrObuv, across all Russian regions. Gloria Jeans Corp maintained second position in apparel and footwear specialist retailers in 2015, with a 3% value share. The company focuses mainly on the retailing of apparel, operating a chain of 530 outlets branded Gloria Jeans & Gee Jay, offering fast fashion clothes and accessories at affordable prices. At the end of 2014 the company negotiated to sell 25% of its business; however, the deal fell through due to the declining economic situation in country, including the collapse of the Russian rouble and its further consequences.

Industry Prospects

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