Russia: As western fashion businesses pull out it looks to China & India

31 March 2022, Mumbai:

As Russia continues to struggle as a result of the hole left by the vast migration of western fashion retail enterprises, the country is now looking east for solutions.

The Russian Council of Shopping Centers (RCSC) has allegedly stated that China, India, Iran, and Turkey are being considered to close the gap.

The RCSC went on to say that it is now in talks with its representatives in each of the four nations indicated above to identify alternatives to western fashion labels.

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According to a statement on the RCSC website, a list of international firms that have temporarily shut down their operations in Russia has been issued to them in order to find acceptable replacements.

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This, according to reports, will assist complement or totally replacing goods from deceased firms with products of comparable quality and design.

RCSC is unique in that it includes both developers and shopping center owners, as well as retail chain operators.

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CREDITS: Reuters & Apparel Resources.