MOSCOW, February 11. /TASS/. Some luxury foreign brands are discussing potentially returning to the Russian market, CMWP Senior Director Zulfiya Shilyaeva told reporters.
"Several international brands approached our company asking about the possibility of returning to the Russian market either directly or through the help of franchising partners. This is the luxury segment," she said.
These brands hope the situation will make it possible for them to return to the market by the end of 2025, Shilyaeva told TASS. "I regret saying we have not yet been authorized by them to publicize names but these are largely apparel brands – luxury ones and also the mid-price segment," she added.
Foreign brands continue entering the Russian market, Vice President of the Shopping Centers Union Pavel Lyulin told TASS. "Even from the so-called unfriendly countries, for example, South Korea. It takes place however in current conditions through partners and with a modified brand, that is, a name or a part of the goods changes. Talks have been long since on the market as regards the return of Zara and other withdrawn brands, but this has not led to real steps thus far. In the meantime, if the decision on the return is made, it will be rather simple to do this technically for the Inditex Group brands, since the team and ‘successors’ continue working here, while it is not the same for H&M, Uniqlo and some other brands," he noted.
The return will nevertheless be to the market with already experienced deficit of free shopping areas and competition with Russian friends will be fierce, Lyulin noted. Some brands lost their locations in Russia and talks are being held with operators that substituted these brands, Shilyaeva said.