Contactlab and Exane BNP Paribas released the third report exploring luxury goods markets in new economies: Luxury in… Russia: The Comeback, following the previous June report Luxury in…Korea and February report Luxury in…India.
After the significant 2015 market slump (ca -25% vs 2014) due to Ruble strong devaluation, the Luxury market in Russia seems to recover in 2016 (up 5-10%) due to:
• Continuous Russian clients shopping shift from abroad to domestic
• Increase in tourist shopping given the favorable 10-20% price differential with Asian countries. New tax Free Bill should further promote tourist shopping in Russia
See all article HERE.
