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Dear readers! The tenth issue of LOGISTICS journal opens with a large article dedicated to the results of the BRICS Business Forum, held on October 18, 2024 in Moscow. Yulia Kislova, Director of Agency Market Guide LLC and publisher of LOGISTICS journal, attended the event and prepared an article where she paid special attention to international trade and logistical connectivity of the countries of the association. The details are in the room.
Dear readers! We present to your attention the ninth issue of the Logistics magazine, in which we have collected and combined relevant materials. On the pages of the new issue, we paid close attention to the personnel problem. You will be interested in SuperJob's research on changes in demand for personnel over the year, salaries of truck drivers and warehouse staff. Our author V.S.
Dear readers! First of all, we would like to welcome all participants of the grand industry event – the CeMAT RUSSIA exhibition, which will be held from September 17 to 19, 2024, in Moscow, Crocus Expo IEC, Pavilion 1. LOGISTICS magazine will be presented at the event, we invite you to our stand C309, where you can get acquainted with the latest issue of the magazine and find out the terms of cooperation with the editorial office.
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Luxury goods market demonstrates stability
- CBRE analyses luxury segment in Russia -
- 29 new luxury brands opened their stores in 2015-2016 in Moscow -
Moscow
According to the findings of the latest research from CBRE, the global property advisor, luxury goods market in Russia demonstrated stability in 2016, mainly due to a shift in demand, influx of Chinese tourists and reduced prices from a number of retailers.
On the back of the crisis and income decline the number of Russians traveling to Italy, Spain, France, and Germany declined by 32% in 2015-2016 compared to 2013-2014. Consumers started to spend money inside the country, including luxury clothes and shoes.
Source: Rosstat, CBRE, Q4 2016
The report showed that the reduced prices (10-25%) for luxury goods from the largest retailers made Moscow competitive to Milan. The prices in Russia are lower than in Asia. This step led to the increased number of purchases by foreigners, mainly by Chinese tourists.
On the back of the formed comfortable conditions (signage and services in the Chinese language) and preferences (tax free, option to use China UnionPay, visa-free travels by groups of 5-to-50 people for up to 15 days) for the Chinese, number of tourists from China increased by 28.5% in 2015 and 15% in 2016.
Source: Rosstat, CBRE, Q4 2016
Despite the downturn in the economy, Russia remains one of the key markets for almost all global luxury brands. This is reflected in new stores openings, as well as in the expansion of the existing stores. About 42% stores opened in Russia during 2015-2016 compared to 2013-2014. Among the brands that turned into direct operation for the last three years are Bvlgari, Gucci, Burberry, Tiffanу&Co. and Hermes.
Source: Rosstat, CBRE, Q4 2016
Source: CBRE
Olesya Dzuba, Head of Research, CBRE in Russia commented:
“With 73% of luxury retailers present in the market Moscow ranks 7th along with New York, Osaka and Taipei in terms of global luxury presence giving way to Shanghai, Dubai, London, Hong Kong, Tokyo and Singapore. Moscow is also among the ten most attractive cities for luxury retailers together with London, Melbourne, Doha, Dubai, Prague, Honolulu, Gold Coast, Bucharest and Ho Chi Minh. The emerging economic recovery will stimulate interest from luxury brands to the Moscow market”.
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