Ministry of Industry and Trade: about 45 new clothing brands will appear in Russia this year
The head of the department, Anton Alikhanov, noted that about half of the new brands will be domestic and focused on narrow niches.
Quick Look
- In 2024, about 45 new clothing brands are expected to appear on the Russian market, half of which are domestic.
- New brands are focusing on technological clothing and ethnic elements, actively using AI to compete in the online segment.
AI-generated summary
Why It Matters
After the departure of a number of global brands from the Russian market, niches have become vacant and are being actively occupied by domestic manufacturers.
About 45 new clothing brands, about half of which will be Russian, will appear on the country's market this year, the Russian Ministry of Industry and Trade said in a statement, citing the head of the department, Anton Alikhanov.
On Tuesday, Alikhanov took part in the BRICS+ Fashion Summit, taking place on September 28-30 in Zaryadye, Moscow.
“This year, about 45 new brands will appear, about half of them will be Russian. They are mainly aimed at narrow niches - technological clothing or products with traditional elements of different nationalities or within specific regions,” the press service quotes the minister as saying.
As the head of the Ministry of Industry and Trade noted, existing brands are fighting among themselves for consumer preferences, primarily in the online space. Artificial intelligence is increasingly being used in competition, both to improve production efficiency and for promotion.
In addition, he added, after the departure of a number of global brands, the market passed the peak of rapid growth, and the vacated niches were partially occupied by new domestic brands.
Open Questions
- Which specific brands are planning to enter the market?
- What is the volume of investment in new brands?
