Market value of clothing retail in Russia 2003-2019
Russian clothing retail market skyrocketed after the entry of Mango and Inditex between 2005 and 2006. The market value multiplied by 10 from 2004 to 2007, setting at over 37 billion euros in 2007 and growing further, reaching the historic maximum of 38.2 billion euros in 2008. The 2009 financial crisis led to an about 10 billion euros fall in the market value. However, the recovery phase followed shortly, enhanced by Debenhams' entry in 2012, which translated into a 35 billion euros market value in the following year.
Market saturation, along with the Russian ruble decline, turned into a 23 percent fall in 2015 and a further decline to 24.6 billion euros in 2016. Over the recent years, moderate growth was recorded, which was also partly prompted by the re-entry of Stockman in 2017. In 2019, Russian clothing retail market value was expected to measure at over 29 billion euros.
Market saturation, along with the Russian ruble decline, turned into a 23 percent fall in 2015 and a further decline to 24.6 billion euros in 2016. Over the recent years, moderate growth was recorded, which was also partly prompted by the re-entry of Stockman in 2017. In 2019, Russian clothing retail market value was expected to measure at over 29 billion euros.
