Russia loves Italian haute couture

During the conference on 'The Russian market: the situation and prospects for Italian fashion companies', held yesterday in Milan and organized by Pambianco Strategie di Impresa, a study was presented of an estimate, based on parameters supplied by statistics institute Istat, of the value of the high Fashion market (clothing, footwear, leatherwear, jewelry and eyewear) in Russia.

The figure is approximately 600 million euros, 1.5% of the value of the world market, which is estimated at 40 billion euros. The high-fashion market is almost entirely covered by imports and Italy, whose global fashion exports to Russia total about 700 million euros, covers 65% of the high-fashion range with billings close to 400 million euros.

The figure is especially encouraging considering that France, Italy's main competitor in this sector, reaches 120 million with a 20% market share. The leadership is also confirmed by the number of labels and boutiques in Russia: to date there are 98 Italian labels and a total of 326 monobrand stores, whereas the French have 23 labels and 40 stores.

According to Massimo Mamberti, director of Ice Moscow, Russia is 'a market at the development stage with an annual growth rate of 8% and a forecast growth of 10/15% in the next few years.'

(Source: Modaonline)