Next year, the Russian jewelry market is expected to increase by 6-7%, reaching 380 billion rubles. This information was shared in an interview by Artem Sokolov, managing partner of the Sokolov jewelry holding. RIA News.
Sokolov also noted that the share of online sales, which will constitute a quarter of total sales, is expected to increase. Sokolov added that the company is growing faster than the market and plans to expand its retail network by 300 sales points and open 100 franchises. In this regard, the budget for next year envisages an increase in revenues by 30% to 65 billion rubles, and EBITDA to 13 billion.
According to the company’s forecasts, the volume of the retail jewelry market in Russia will reach 356 billion rubles this year. Sokolov noted several factors contributing to this growth, including rising prices due to increased gold and ruble volatility, the impact of pent-up demand, and the recovery in consumer activity.
He also pointed out that there was an increase in gold and silver jewelry production. At the same time, the share of silver jewelry continues to increase and accounts for more than 75% of the company’s sales. Sokolov concluded that although silver is cheaper in price, the frequency and margin of sales in this segment are significantly higher than in gold.
Previously Mishustin in the name Avoid excessive optimism.