×
2 909
Fashion Jobs
HARRODS
Food Supply Assistant Manager
Permanent · LONDON
HARRODS
Buyers Clerk Fashion Buying
Permanent · LONDON
HARRODS
Senior Buyers Clerk - Non Fashion Buying
Permanent · LONDON
HARRODS
Senior Buyers Clerk - Fashion Buying
Permanent · LONDON
HEAD OFFICE
CRM Manager, Financial Services
Permanent · LONDON
HEAD OFFICE
Senior CRM Executive, Financial Services
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CHELMSFORD
JOHN LEWIS
Stock Coordinator
Permanent · KINGSTON UPON THAMES
HEAD OFFICE
Technical Services Compliance Manager
Permanent · BRACKNELL
PRETTYLITTLETHING
Merchandising Manager - 12m Ftc
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Boots Rochdale- 15h/Week - Part Time, Permanent
Permanent · Rochdale
SELFRIDGES
Sales Manager - Beauty
Permanent · BIRMINGHAM
BOOHOOMAN
SEO Manager
Permanent · MANCHESTER
AESOP
Cybersecurity Operations Manager UK
Permanent · London
BOOHOOMAN
Senior CRM Executive
Permanent · MANCHESTER
HARRODS
Buyers Clerk (Food)
Permanent · LONDON
JOHN LEWIS
Brand Experience Manager
Permanent · HIGH WYCOMBE
JOHN LEWIS
Section Manager – Training
Permanent · MILTON KEYNES
SUPERDRY
Internal Audit Manager
Permanent · CHELTENHAM
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Londres
ESTEE LAUDER
Tom Ford Beauty - Product Manager (Fragrance)
Permanent · Londres
ESTEE LAUDER
The Estée Lauder Companies - UK dc Warehouse Operative – Goods in (Tuesday-Friday 06:00 - 14:00 & Saturday 08:30 – 16:30)
Permanent · Fareham
Ads
By
Reuters API
Published
Mar 26, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

As western retail brands exit, Russia looks east for replacements

By
Reuters API
Published
Mar 26, 2022

Russia is looking to China, India, Iran and Turkey to plug the gap created by an exodus of western retail companies, an industry body said on Friday, as Moscow grapples to find ways to combat its growing isolation in the face of sanctions.


Reuters


The Russian Council of Shopping Centres (RCSC), an organisation representing developers, shopping centre owners and retail chain operators, said it was negotiating with its corresponding representatives in the four countries about finding alternatives to western brands.

"A list of foreign companies that have temporarily ceased operations in Russia was sent to them so that appropriate equivalents can be found," a statement on the RCSC website read.

"Over time this will help supplement or completely replace goods of the defunct brands with ones of a similar quality and design."

Dozens of big brands have temporarily shuttered operations or exited the country since Russia sent tens of thousands of troops into Ukraine on Feb. 24 in what it calls a special operation.
Sanctions have hampered supply chains and fuelled panic buying among some Russians, with medicine and sugar shortages reported, and accelerating inflation is set to send prices higher.

During an RCSC meeting of more than 100 market participants, the challenges facing Russian retailers were discussed.

RCSC cited Igor Maltinsky, director of development at Melon Fashion Group, as saying that the main challenge facing domestic retail firms was the uncontrollable growth of production costs, due to huge increases in procurement and logistics costs, as well as many other related factors.

Melon owns four, mainly women's, fashion brands - Zarina, Befree, Love Republic and Sela and had 846 stores across Russia and CIS at the end of 2021. It had been planning to hold an initial public offering (IPO) this year.

On Thursday, Swedish real estate firm Eastnine, a minority shareholder in Melon, said the planned IPO had been postponed. It said western sanctions had negatively affected the company, making valuing it very difficult.

© Thomson Reuters 2022 All rights reserved.