The premium segment is precisely the segment from which the maximum number of brands have left: Tommy Hilfiger, Calvin Klein, Marks & Spencer, Massimo Dutti, Vagabond, COS, Arket, etc. Moreover, in the premium segment, where service is crucial, offline sales are a key driver of sales.
The closure of mono-brand stores of international brands reflected the fact that buyers began to consider alternative local options, both offline and online. Yandex recorded a noticeable jump in interest in the premium and luxury segment in queries in 2023. The accelerated growth in turnover in premium sales was noted on Lamoda, and sales of the premium online multi-brand NUSELF are actively growing.
Companies operating in this segment offline are also seeing an increase in demand after the closure of premium international chains. Moreover, the biggest winners were the foreign companies that did not leave the market. According to the FCG industry report, the leaders in growth rates among foreign companies in the Russian market are the premium segment players remaining on the market: MARC O’POLO, GERRY WEBER, MARCCAIN.
Russian companies and players in this segment have also grown. They are actively opening new stores: Akhmadullina Dreams (30 stores). I am studio (26 stores) Brusnika (26 stores), Lichi (24 stores), EMKA (19 stores) Gate 31 (14 stores) All we need (10 stores), Charuel (44 stores).
It is luxury buyers who today “reinforce” the sales of premium segment brands and niche designer projects, as they have the opportunity not to limit their fashion appetite.
Russian brands that operate in the premium segment
There are no empty niches in the Russian market. In the Massimo Dutti price segment today there are a variety of local brands with completely different style concepts, such as: Akhmadullina Dreams (30 stores), I am studio (26 stores), Brusnika (26 stores), Lichi (24 stores), EMKA (19 stores ) Gate 31 (14) All we need (10), Charuel (44 stores). Moreover, all these brands are at the stage of active development. It is this segment that is most open to new names and concepts, since buyers in this segment are willing to pay for quality, relevance and fresh ideas.