In major shopping centers across Russia, foreign retailers renting space have shifted their presence in a notable way. A segment of these tenants has closed their operations entirely, while a larger group has paused activities for the time being. This assessment draws on CORE.XP research data gathered from a sample of retail spaces in ten Russian cities that range from mid-sized to highly populated.
The study reveals that 27 percent of foreign tenants leasing space in Russian malls have decided to terminate their activities within the country. Another 51 percent have chosen to suspend operations rather than close completely, reflecting a wave of precaution and strategic reassessment among international brands.
Additionally, about 22 percent of the companies are undergoing some form of restructuring. Among those brands that have halted activity, roughly seven in ten belong to the fashion category, indicating a concentrated impact on apparel and related segments within the retail sector.
These findings align with broader market observations reported earlier in the year by other industry analyses, which noted a significant portion of large multinational firms adjusting their footprint in Russia since the late winter period. The trend suggests a cautious approach by foreign businesses as they reassess exposure, supply chains, and long-term market viability while navigating a shifting regulatory and economic landscape.
Across the ten cities examined, the distribution of responses by sector and company size points to a nuanced picture. While fashion brands bear a sizable share of pauses, other categories show varying degrees of continuity, with some retailers maintaining storefronts under adjusted terms and tightened operational controls. The overall pattern indicates that international retailers are prioritizing risk management and flexibility, seeking to preserve brand presence where feasible while scaling back commitments that require significant local investment.
In summary, the current climate in Russian shopping centers reflects a significant but selective pullback by foreign tenants. A substantial portion has stabilized by suspending activities rather than exiting entirely, and a notable minority is restructuring to align with new market realities. The fashion segment, in particular, has been disproportionately affected, signaling shifting consumer demand and strategic recalibration among global brands operating in Russia.