Page 120 - RusRPTFeb24

9.1.5 Retail sector news
in 2023. It was followed SITRAK (23,811), SНACMAN (19,983), and FAW (12,565) – all produced by Chinese automakers.
Unprecedented inflation for basic foods has Russians queuing for eggs – Soviet-style Russian dictator Vladimir Putin seems so keen on bringing back the Soviet Union that he’s introduced something the failed state was best known for – long lines for basic goods.
Russian domestic fashion brands reported increased turnover and inflow of clients in 2023, Kommersant daily reported citing a survey of market participants conducted by Fashion Consulting Group (FCG) and Fashion Factory School.
More than half of the surveyed owners of small Russian clothing brands, as well as founders and top managers of major players in this fashion market segment, noted positive dynamics in key business parameters at the end of 2023, despite the ongoing full-scale military invasion of Ukraine.
Namely, 2% of respondents stated an overall increase in turnover, and 61% noted an increase in customers. Thus 47% of owners and top managers of fashion companies expect revenue growth by the end of 2023 by about 30%; 10% predict from 30% to 50%, and another 10% expect the growth of financial
120 RUSSIA Country Report February 2024 www.intellinews.com