Russian footwear market set for growth

Russia – led by its capital Moscow – is a growing market for footwear producers.

Retail sales of footwear and clothing in Russia may rise by an average of 10 per cent a year for the next few years, according to a forecast published by research company PMR. Latest trading figures show that the footwear and clothing market in Russia grew by 11 per cent in 2010 to $56 billion.

With a population of almost 143 million and an economy expected to expand by at least 4 per cent year-on-year, many analysts view Russia as an attractive retail market. Total retail sales in the country are reported to have increased by nearly 13 per cent in 2010 to $540 billion, with footwear and clothing proving to be the second largest retail sector after food.

In its report on the footwear and clothing retail market in Russia during 2011, PMR states that clothing accounted for two-thirds of the total clothing, footwear and accessories (CFA) market in 2010, with footwear and accessories contributing about 32 per cent and 2 per cent respectively.

PMR forecasts that the Russian CFA market will expand, although not as fast as in recent years, to reach around $75 billion in two years’ time. The sector is expected to be driven by children's wear, sportswear and casual wear.

Publishing Data

This article was originally published on page 4 of the October 2011 issue of SATRA Bulletin.

Other articles from this issue »

---