New Russian Luxury: How Brands Are Created to Compete with Recognized Global Market Leaders
In recent years, local Russian brands have received a significant boost in development. This is mainly due to the fact that global corporations, having left Russia, vacated niches in popular sectors such as glossy magazines, clothing, and jewellery. Bringing luxury goods into Russia has become much more difficult and expensive. As a result, current Russian fashion industry leaders have taken over the premium category, amidst debates on whether this is justified or not.
Contrary to expectations, the fashion market has not become purely local. Russian designers’ products remain in demand abroad and are opening new distribution channels. It seems as if nothing has changed. The same Western stars, such as Jennifer Lopez, continue to appear in outfits by Russian designers, promoting them on a global level. Additionally, Irina Shayk and Natalia Vodianova have become the faces of Russian brands, which was previously just a dream.
How are Russian luxury brands realizing new competitive advantages gained from the departure of major global players? How long will this window of opportunity remain relevant? How can a premium local brand be built with the potential for scaling not only in the markets of the former Soviet Union?
Moderator
Maria Morgun,
journalist, expert at Moskvichka magazine
Panellists
Darina Alekseeva,
Editor-in-Chief, Moskvichka Magazine
Anna Lukanina,
Managing Partner of the branding agency Depot
Elena Myasnikova,
Owner of the project Fashion House L’Atelier
Yana Raskovalova,
designer and founder of the fashion house Yana
Georgy Rushev,
founder of the jewellery brand RUSHEV
Liudmila Spiridonova,
Executive Director, NAFI Analytical Center
