Russian shoppers look East after Western brand exodus

Russian shoppers look East after Western brand exodus

THE WHAT? Brands from China, India, Iran and Turkey could soon enjoy a new found popularity among Russian consumers, according to a report published by Reuters, after a number of Western brands withdrew from the market.

THE DETAILS The Russian Council of Shopping Centres (RCSC), told Reuters that it is negotiating with its corresponding associations in the four countries in a bid to find alternative brands to plug the gaps left behind.

THE WHY? A statement on the RCSC website, per Reuters, reads, “A list of foreign companies that have temporarily ceased operations in Russia was sent to them so that appropriate equivalents can be found. Over time this will help supplement or completely replace goods of the defunct brands with ones of a similar quality and design.”