OREANDA-NEWS 23 foreign brands are planning to start working on the Russian retail market, while 19 brands entered the market in 2023, follows from the presentation of the consulting company NF Group.

According to the company, most of the brands that entered the Russian market in 2023 are from Turkey (58%), Belarus (16%), Estonia (8%). The main profile of retailers is clothing and footwear (63%).

"Unfortunately, the quality of the output of new brands from abroad is greatly reduced. Thus, most of the Turkish brands that entered the Russian market last year, not only did not continue their development in the country, but have already closed," said Evgenia Hakberdieva, Regional Director for Retail Real estate at NF Group.
Of those brands that are preparing to enter the market, most (35%) are Iranian. Retailers are also expected to leave China (13%), as well as from Kazakhstan, Belarus, South Korea, the UAE, and Turkey (9% each). The main profile of brands is clothing and footwear (74%).