Luxury Goods in Russia

Luxury Goods in Russia

Value sales of luxury goods in Russia experienced a slowdown in 2019 compared to the previous year, as high economic polarisation of Russian society widened, following a fluctuating performance by the local economy from mid-review period onwards, leading to currency volatility, and impacting prices of imported goods. This meant that aspirational middle class consumers remained highly price sensitive and searched for the most competitive prices, waiting for discounts or even being forced to trade...

Euromonitor International's Luxury Goods in Russia report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2024 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Luxury Goods market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.


Luxury Goods in Russia
Euromonitor International
January 2020
LIST OF CONTENTS AND TABLES
Executive Summary
Positive But Slower Demand for Luxury Goods Due To Unstable Economy But Buoyed by Increases in Hnwi and Foreign Visitors
Demand From Younger Affluent Russians Influence New Concepts in Marketing
High Fragmentation for Competitive Landscape of Personal Luxury, Led by Global Fashion Brands
Department Stores and Internet Retailing Continue To Gain Share From Traditional Specialists
Strong Improvement for Most Luxury Goods Over Forecast Period, Supported by Ongoing Rise in Number of Affluent Russians and Inbound Receipts
Market Indicators
Table 1 Number of High Net Worth Individuals (HNWI): 2014-2019
Market Data
Table 2 Sales of Luxury Goods by Category: Value 2014-2019
Table 3 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 5 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 6 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 8 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024
Sources
Summary 1 Research Sources
Headlines
Prospects
Affluent Consumers' Increasing Move Towards Luxury Experiences Will Offer Further Potential for Luxury Hotels Over Forecast Period
Luxury Hotels Must Deliver Unique Experiences To Ensure That Clients Remember Their Stay
Efforts To Encourage Further Inbound Tourism Could Help Drive Sales Through Luxury Hotels
Competitive Landscape
Strong Performance for Leader Lotte Hotel, Opening New Hotel Near Far East Region
New Facilities and Experiences in 2019 Should Help Attract Clients Over Forecast Period
Luxury Hotels Will Concentrate on Reviewing and Improving Services and Experiences Rather Than Focus on Expansion Over Forecast Period
Category Data
Table 10 Sales of Experiential Luxury by Category: Value 2014-2019
Table 11 Sales of Experiential Luxury by Category: % Value Growth 2014-2019
Table 12 NBO Company Shares of Experiential Luxury: % Value 2014-2018
Table 13 LBN Brand Shares of Experiential Luxury: % Value 2015-2018
Table 14 Forecast Sales of Experiential Luxury by Category: Value 2019-2024
Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Headlines
Prospects
Drop in Sales Following Impressive Performance in Year of Fifa World Cup As Domestic Spending Wanes in Light of Unstable Local Economy
Incoming Tourism Numbers and Inbound Receipts Show Healthy Growth Yet Sales Through Luxury Hotels Fall
Improvements To Ease Entry To Country Through E-visas Likely To Lead To Stronger Tourism Numbers Over Forecast Period
Competitive Landscape
Luxury Hotels in Russia Are Dominated by Prestigious International Brands That Offer High Standards and Utilise Effective Marketing Strategies
Luxury Hotels Continue To Develop New Experiences Expected by Affluent Consumers
Sustainability Movement Becoming Increasingly Evident Within Luxury Hotels
Category Data
Table 16 Sales in Luxury Hotels: Value 2014-2019
Table 17 Sales in Luxury Hotels: % Value Growth 2014-2019
Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2014-2019
Table 19 NBO Company Shares in Luxury Hotels: % Value 2014-2018
Table 20 LBN Brand Shares in Luxury Hotels: % Value 2015-2018
Table 21 Forecast Sales in Luxury Hotels: Value 2019-2024
Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2019-2024
Headlines
Prospects
Improving Performance, Driven by Luxury Whiskies As Affluent Consumers Appreciate Brand Heritage and Status Attached To This Drink
Rising Unit Prices Rarely A Deterrent for Demand Amongst Most Affluent Russians
Introduction of Legal Sales Through Internet Retailing From 2020 Likely To Support Further Growth for Category
Competitive Landscape
International Brands Continue To Dominate Due To High Consumer Awareness and Diversified Portfolios
Strong Performance by Luxury Whiskies Benefits Pernod Ricard
Affluent Russians Perceive Imported Brands To Offer the Highest Quality, Supporting Their Greater Status in Society
Category Data
Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2014-2019
Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2014-2019
Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2014-2018
Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2015-2018
Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2014-2019
Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
Headlines
Prospects
Ongoing Instability in the Local Economy Leads To Fluctuating Performance for Premium and Luxury Cars Due To Their Huge Investment
Suvs and Crossover Models Popular for Wealthy Families on Long Journeys and As Status Symbols in Major Cities
Quota Basis System and Requirement for Era-glonass Complicates Importing of Premium and Luxury Cars for Car Dealers
Competitive Landscape
German Brands Continue To Benefit From Popularity Amongst Affluent Russians
Moscow Enjoys Being Part of Bentley's 100th Anniversary Events Around the World
Collaborations Between Luxury Brands Are Mutually Beneficial
Category Data
Table 30 Sales of Premium and Luxury Cars: Value 2014-2019
Table 31 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 34 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024
Headlines
Prospects
Tax-refund System Encourages Greater Spending on Personal Luxury Amongst Inbound Tourists
Chinese Visitors Continue To Contribute Highest Amount of Inbound Receipts on Luxury Goods
Despite Domination of Non-grocery Retailers, Smaller Distribution Channels Gain Ground
Competitive Landscape
High Fragmentation Within Personal Luxury With Some Disruption Amongst Brands
Hnwi Look To Unique Brands Which Can Set Them Apart From Other Luxury Goods Consumers
Social Media Influencers Increasingly Utilised by Brands To Capture Younger Affluent Audience
Category Data
Table 36 Sales of Personal Luxury by Category: Value 2014-2019
Table 37 Sales of Personal Luxury by Category: % Value Growth 2014-2019
Table 38 NBO Company Shares of Personal Luxury: % Value 2014-2018
Table 39 LBN Brand Shares of Personal Luxury: % Value 2015-2018
Table 40 Distribution of Personal Luxury by Format: % Value 2014-2019
Table 41 Forecast Sales of Personal Luxury by Category: Value 2019-2024
Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2019-2024
Headlines
Prospects
Increasing Expenditure Amongst Foreign Tourists Helps Support Further Growth of Category
Athleisure Trend Amongst High-end Fashion Brands Continues To Gain Momentum
Non-grocery Specialists Continues To Lose Share As Main Distribution Channel
Competitive Landscape
Mercury Group Strengthens Leadership in Fragmented Competitive Landscape
New Launches and Services Likely To Appeal To Consumers Looking for Variation
Prada Opens Pop-up Store With Retro Athleisure Line
Category Data
Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2014-2019
Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2014-2019
Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2018
Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2018
Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2014-2019
Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2019-2024
Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2019-2024
Headlines
Prospects
Tentative Recovery for Luxury Eyewear But Counterfeits Remain An Issue
Stronger Performance for Luxury Spectacle Frames Benefitting From Both Image and Practicality
Younger Generation Drives Sales Through Internet Retailing
Competitive Landscape
High Fragmentation for Luxury Eyewear, But Leading Brands Consolidate Positions
Ray-ban Offers More Affordable Luxury To Middle Class Russians
E-commerce Sites Offer Attractive Options To Further Enhance Sales Through Internet Retailing
Category Data
Table 50 Sales of Luxury Eyewear by Category: Value 2014-2019
Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2014-2019
Table 52 NBO Company Shares of Luxury Eyewear: % Value 2014-2018
Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2015-2018
Table 54 Distribution of Luxury Eyewear by Format: % Value 2014-2019
Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2019-2024
Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2019-2024
Headlines
Prospects
Emerging Source Countries for Inbound Visitors Help To Support Strengthening Performance of Luxury Jewellery
Affluent Consumers Increasingly Search for Exclusive Luxury Fine Jewellery That Offers Unique Designs
Further Rising Unit Prices Expected, Although Demand Will Also Continue To Grow
Competitive Landscape
Some Positional Changes Within Fairly Consolidated Competitive Landscape
Hermès Aims To Attract Consumers Back To Its Brand by Trading on Heritage and Classic Designs
Collaborations and Sponsorships Broaden Exposure To Target Audience
Category Data
Table 57 Sales of Luxury Jewellery by Category: Value 2014-2019
Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2014-2019
Table 59 NBO Company Shares of Luxury Jewellery: % Value 2014-2018
Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2015-2018
Table 61 Distribution of Luxury Jewellery by Format: % Value 2014-2019
Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2019-2024
Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2019-2024
Headlines
Prospects
Consistently Improving Performance for Luxury Leather Goods, Dominated by Demand From Women
Increasing Exposure To Casual Western Trends Supports Strong Growth for Luxury Bags and Small Leather Goods
High-end Department Stores and Internet Retailing Record Strongest Value Growth
Competitive Landscape
Some Disruption Within Fragmented Competitive Landscape But Louis Vuitton Retains Leadership
Michael Kors Aims To Recover Position With Men's Capsule Collection Targeting Travellers
Ralph Lauren Inspired by Heritage and Equestrian World for Spring-summer Collection
Category Data
Table 64 Sales of Luxury Leather Goods: Value 2014-2019
Table 65 Sales of Luxury Leather Goods: % Value Growth 2014-2019
Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2014-2018
Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2015-2018
Table 68 Distribution of Luxury Leather Goods by Format: % Value 2014-2019
Table 69 Forecast Sales of Luxury Leather Goods: Value 2019-2024
Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2019-2024
Headlines
Prospects
Luxury Mobile Phones Will Remain Negligible Due To Advances in Technology and Premium Models Offered by Smartphones
Luxury Wearables Predicted To Recover Over Forecast Period As Consumer Base Expands To Include Affluent Younger Generation
Luxury Wearables Unlikely To Pose Threat To Demand for Luxury Timepieces Or Smartphones
Competitive Landscape
Consolidation for Leading Luxury Wearables Brands
New Launches for Apple Watch Hermès Likely To Lead To Further Share Gain
Stronger Potential of Luxury Wearables Could Still See Other Luxury Goods Players Enter Category Over the Forecast Period
Category Data
Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2014-2019
Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2014-2019
Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2014-2018
Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2015-2018
Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2014-2019
Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2019-2024
Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2019-2024
Headlines
Prospects
Luxury Timepiece Brands Look To Expand Target Audience To Counter Declining Demand Amongst Certain Segments of Russian Men
Themed Heading 2
Change of Marketing Strategy As Brands Increasingly Focus on Experiences and Activities That Are Likely To Attract Younger Audience
Competitive Landscape
Varying Strategies Used by Brands To Expand Target Audience
Bvlgari Continues To Make Strong Progress With Wider Presence and New Launches
New Launches Concentrate on Offering Ultra-thin Timepieces, and Specific Colour Concepts To Attract Exclusive Customers
Category Data
Table 78 Sales of Luxury Timepieces by Category: Value 2014-2019
Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2014-2019
Table 80 NBO Company Shares of Luxury Timepieces: % Value 2014-2018
Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2015-2018
Table 82 Distribution of Luxury Timepieces by Format: % Value 2014-2019
Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2019-2024
Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2019-2024
Headlines
Prospects
Increasing Digitalisation Continues To Have Negative Impact on Demand for Luxury Writing Instruments and Stationery
Inbound Visitors Continue To Offer Lifeline To Sales, With An Increasing Focus on This Consumer Segment
Brands Look To Expand Target Audience by Attracting Younger Affluent Consumers Through Digital Marketing
Competitive Landscape
Themed Heading 1
Interesting Marketing Strategy Utilised by Montblanc To Commemorate Launch of the Space Race
Luxury Brands Must Continue To Expand Target Audience and Attract Collectors With Unique Designs and Limited Editions
Category Data
Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2014-2019
Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2014-2019
Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2014-2018
Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2015-2018
Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2014-2019
Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2019-2024
Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2019-2024
Headlines
Prospects
Super Premium Fragrances Remains Largest Value Category, But Important Aspirational Middle Class Consumers Continue To Search for Greater Affordability
Ongoing Demand for Super Premium Skin Care Despite Highest Unit Price
Internet Retailing Holds Highest Share Within Super Premium Beauty and Personal Care, Driven by Demand for More Affordable Goods Amongst Middle Class
Competitive Landscape
Competitive Landscape of Super Premium Beauty and Personal Care Becomes Increasingly Fragmented, Driven by Demand From Affluent Consumers for Niche Brands
Loewe Collaborates With Respected Photographer To Launch New Advertising Campaign
Use of Local Celebrities From Various Mediums Raises Profile of Colour Cosmetics Brands in Russia
Category Data
Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2014-2019
Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2014-2019
Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2014-2018
Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2015-2018
Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2014-2019
Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2019-2024
Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2019-2024

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