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Luxury Goods in Russia

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    Report

  • 95 Pages
  • December 2021
  • Region: Russia
  • Euromonitor International
  • ID: 2398388
Sales of luxury goods saw a significant impact from the outbreak of COVID-19 in 2020, resulting in slower current value growth than in 2019. In response to the pandemic Russia closed its borders to foreign arrivals which dealt a significant blow to areas of luxury goods that are more reliant on foreign visitors from markets such as China, Germany, France and the US.

The 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 2025 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.

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

Table of Contents

LUXURY GOODS IN RUSSIA
EXECUTIVE SUMMARY
  • Luxury goods in 2021: The big picture
  • 2021 key trends
  • Competitive landscape
  • Retailing developments
  • What next for luxury goods?
MARKET DATA
  • Table 1 Sales of Luxury Goods by Category: Value 2016-2021
  • Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021
  • Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021
  • Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020
  • Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020
  • Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021
  • Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026
  • Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026
SOURCES
  • Summary 1 Research Sources
EXPERIENTIAL LUXURY IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Trend one
  • Prices rise and sanitation controls tighten in response to COVID-19
  • Lotte Hotel leads while COVID-19 continues to influence bookings
PROSPECTS AND OPPORTUNITIES
  • Luxury hotels may need to look for new ways to build profits as COVID-19 remains a threat to traditional bookings
  • Financial pressures set to continue undermining growth
  • Luxury hotels will need to adopt new strategies to aid a recovery
CATEGORY DATA
  • Table 9 Sales of Experiential Luxury by Category: Value 2016-2021
  • Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021
  • Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020
  • Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020
  • Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026
  • Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026
LUXURY HOTELS IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Luxury hotels on a slow path to recovery as COVID-19 remains a threat
  • Prices rise and new sanitation measures come into play as luxury hotels look to ride the challenges presented by COVID-19
  • Moscow and St Petersburg see strong recovery, boosted by mandatory vaccination rules and hosting of large events
PROSPECTS AND OPPORTUNITIES
  • The ongoing recovery of luxury hotels dependent on the epidemiological situation
  • Heavier reliance on foreign visitors makes luxury hotels more vulnerable to travel restrictions
  • Challenges remain which may require a new approach, with less reliance on exclusivity
CATEGORY DATA
  • Table 15 Sales in Luxury Hotels: Value 2016-2021
  • Table 16 Sales in Luxury Hotels: % Value Growth 2016-2021
  • Table 17 NBO Company Shares in Luxury Hotels: % Value 2016-2020
  • Table 18 LBN Brand Shares in Luxury Hotels: % Value 2017-2020
  • Table 19 Forecast Sales in Luxury Hotels: Value 2021-2026
  • Table 20 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026
FINE WINES/CHAMPAGNE AND SPIRITS IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Disruption to foodservice boosts retail sales, while alcohol dependency increases among some in response to the threat from COVID-19
  • Travel ban boosts domestic consumption
  • Home working and home seclusion favourable to sales of alcoholic drinks
PROSPECTS AND OPPORTUNITIES
  • Reopening of entertainment venues likely to suppress retail demand
  • Reopening of borders presents challenges and opportunities, but state efforts to reduce alcohol consumption could be a real threat to growth
  • New Russian law threatens imports of Champagne
CATEGORY DATA
  • Table 21 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021
  • Table 22 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021
  • Table 23 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020
  • Table 24 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020
  • Table 25 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021
  • Table 26 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026
  • Table 27 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026
PREMIUM AND LUXURY CARS IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Sales of premium and luxury cars bounce back as restrictions ease
  • Launch of Aurus Senat big news as consumers look to put themselves in the seat of a presidential car
  • German brands retain their dominance as BMW drives into the lead
PROSPECTS AND OPPORTUNITIES
  • Stable customer base should ensure stable growth
  • Moscow central to demand for premium and luxury car sales
  • Aurus expected to challenge more established players
CATEGORY DATA
  • Table 28 Sales of Premium and Luxury Cars: Value 2016-2021
  • Table 29 Sales of Premium and Luxury Cars: % Value Growth 2016-2021
  • Table 30 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020
  • Table 31 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020
  • Table 32 Forecast Sales of Premium and Luxury Cars: Value 2021-2026
  • Table 33 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026
PERSONAL LUXURY IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Personal luxury sees improved performance in 2021 with focus on domestic consumers
  • E-commerce sees further gains despite barriers to growth
  • Luxury jewellery sparkles but super premium beauty and personal care fails to shine
PROSPECTS AND OPPORTUNITIES
  • Easing of border controls and economic pressures could limit growth
  • E-commerce set for further gains as personal luxury embraces the digital world
  • Mercury rising as well-established brands look to build from a position of strength
CATEGORY DATA
  • Table 34 Sales of Personal Luxury by Category: Value 2016-2021
  • Table 35 Sales of Personal Luxury by Category: % Value Growth 2016-2021
  • Table 36 NBO Company Shares of Personal Luxury: % Value 2016-2020
  • Table 37 LBN Brand Shares of Personal Luxury: % Value 2017-2020
  • Table 38 Distribution of Personal Luxury by Format: % Value 2016-2021
  • Table 39 Forecast Sales of Personal Luxury by Category: Value 2021-2026
  • Table 40 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026
DESIGNER APPAREL AND FOOTWEAR (READY-TO-WEAR) IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Retail volume growth fails to rebound to pre-COVID-19 levels despite improvement with economic pressures remaining a threat
  • Trend two
  • Christian Dior the top performer while Mercury holds onto the lead
PROSPECTS AND OPPORTUNITIES
  • A cautiously optimistic outlook for designer apparel and footwear (ready-to-wear)
  • Players expected to focus on their digital strategies in response to the new tech-savvy generation of consumers
  • Well-established brands expected to hold an advantage over the forecast period
CATEGORY DATA
  • Table 41 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021
  • Table 42 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021
  • Table 43 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020
  • Table 44 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020
  • Table 45 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021
  • Table 46 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026
  • Table 47 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026
LUXURY EYEWEAR IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Luxury eyewear bounces back thanks to return of domestic and foreign holidays
  • Prices stabilise while e-commerce sees further expansion
  • Gucci leads a fragmented field
PROSPECTS AND OPPORTUNITIES
  • COVID-19 continues to cast a cloud over the economy and the growth prospects for luxury eyewear
  • Further potential seen in e-commerce as luxury eyewear goes digital
  • Leading brands expected to grow from position of strength
CATEGORY DATA
  • Table 48 Sales of Luxury Eyewear by Category: Value 2016-2021
  • Table 49 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021
  • Table 50 NBO Company Shares of Luxury Eyewear: % Value 2016-2020
  • Table 51 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020
  • Table 52 Distribution of Luxury Eyewear by Format: % Value 2016-2021
  • Table 53 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026
  • Table 54 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026
LUXURY JEWELLERY IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Luxury jewellery not just a shiny object but also a good investment
  • Players embrace e-commerce as store-based retailers come under threat from COVID-19
  • Cartier comes out on top with new distance sales strategy
PROSPECTS AND OPPORTUNITIES
  • Polarised projections for luxury fine jewellery and costume jewellery
  • Further opportunities expected to be found in e-commerce
  • Established brands expected to retain their lead, but diamond shortages could threaten sales
CATEGORY DATA
  • Table 55 Sales of Luxury Jewellery by Category: Value 2016-2021
  • Table 56 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021
  • Table 57 NBO Company Shares of Luxury Jewellery: % Value 2016-2020
  • Table 58 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020
  • Table 59 Distribution of Luxury Jewellery by Format: % Value 2016-2021
  • Table 60 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026
  • Table 61 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026
LUXURY LEATHER GOODS IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Contrasting fortunes for luxury bags and luxury travel goods as Russia eases its COVID-19 restrictions
  • Retailers and brands turn to e-commerce to reach consumers stuck at home
  • Louis Vuitton retains its lead despite decline in sales of luxury travel goods
PROSPECTS AND OPPORTUNITIES
  • Resumption of travel could present challenges and opportunities within luxury leather goods
  • Digital engagement strategies key for capturing the next generation of consumers
  • Economic pressures could threaten sales to aspirational shoppers
CATEGORY DATA
  • Table 62 Sales of Luxury Leather Goods: Value 2016-2021
  • Table 63 Sales of Luxury Leather Goods: % Value Growth 2016-2021
  • Table 64 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020
  • Table 65 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020
  • Table 66 Distribution of Luxury Leather Goods by Format: % Value 2016-2021
  • Table 67 Forecast Sales of Luxury Leather Goods: Value 2021-2026
  • Table 68 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026
LUXURY PORTABLE CONSUMER ELECTRONICS IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Luxury smartphones struggling to find an audience
  • Premium collaborations could offer some hope for the future of luxury wearables
  • TAG Heuer the big mover in a difficult marketplace
PROSPECTS AND OPPORTUNITIES
  • A bleak outlook for luxury mobile phones as interest wanes
  • Luxury wearables battle with luxury timepieces
  • Easing of travel restrictions expected to have mixed blessings
CATEGORY DATA
  • Table 69 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021
  • Table 70 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021
  • Table 71 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020
  • Table 72 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020
  • Table 73 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021
  • Table 74 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026
  • Table 75 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026
LUXURY TIMEPIECES IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Strict border controls keep sales of luxury timepieces ticking along
  • Players forced to focus on digital strategy due to impact of COVID-19
  • Mercury stands out thanks to Rolex’s investment appeal
PROSPECTS AND OPPORTUNITIES
  • Travel and the economy in focus as producers of luxury timepieces look to the future
  • Retailers and brands expected to embrace the digital landscape as they look to the next generation of consumers
  • Rolex expected to retain its status as the king of watches
CATEGORY DATA
  • Table 76 Sales of Luxury Timepieces by Category: Value 2016-2021
  • Table 77 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021
  • Table 78 NBO Company Shares of Luxury Timepieces: % Value 2016-2020
  • Table 79 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020
  • Table 80 Distribution of Luxury Timepieces by Format: % Value 2016-2021
  • Table 81 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026
  • Table 82 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026
LUXURY WRITING INSTRUMENTS AND STATIONERY IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Consumers rediscover the art of letter writing in a post-COVID-19 world
  • E-commerce thriving in a post-COVID-19 Russia
  • Montblanc remains the must-have brand when it comes to writing instruments
PROSPECTS AND OPPORTUNITIES
  • Resumption of outbound travel could further limit demand for luxury writing instruments and stationery
  • Players expected to continue investing in their digitalisation strategies
  • No significant changes expected in the competitive landscape
CATEGORY DATA
  • Table 83 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021
  • Table 84 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021
  • Table 85 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020
  • Table 86 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020
  • Table 87 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021
  • Table 88 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026
  • Table 89 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026
SUPER PREMIUM BEAUTY AND PERSONAL CARE IN RUSSIAKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Home seclusion continues to limit demand for super premium colour cosmetics
  • Consumers focus on skin care with sales boosted by e-commerce
  • COVID-19 measures have a mixed impact on sales of super premium beauty and personal care
PROSPECTS AND OPPORTUNITIES
  • COVID-19 expected to continue casting a cloud over sales of colour cosmetics and fragrances
  • Younger generations set to continue driving shift towards e-commerce
  • Ageing population should fuel demand for super premium skin care
CATEGORY DATA
  • Table 90 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021
  • Table 91 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021
  • Table 92 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020
  • Table 93 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020
  • Table 94 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021
  • Table 95 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026
  • Table 96 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026