Russian Fashion Market's Plunge Turns Heat on Global Brands

  • New Look, River Island among retailers to have quit country
  • Russian investors "not thinking about adding more franchises"

Customers visit a Hennes & Mauritz AB fashion store in the Afimall retail and entertainment center in Moscow

Photographer: Andrey Rudakov/Bloomberg

Russia’s 2.25 trillion-ruble ($33 billion) fashion market is set to shrink at least 20 percent this year, adding to pressure that’s causing some global brands to quit the country, according to researcher Fashion Consulting Group.

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