The end of September 2023 saw a notable rise in Russian kitchen cabinet prices, climbing by 36% year over year according to data discussed with socialbites.ca by Alexander Shestakov, General Director of the First Furniture Factory. The surge reflects broader market pressures as the ruble weakened and imports became more expensive for manufacturers reliant on foreign components. (Source: Socialbites.ca)
During the same period, prices for kitchen furniture overall rose by 11%, while bedroom wardrobes advanced by 6%. Market participants point to currency dynamics as a primary driver, with imported goods bearing the largest proportional impact. Domestic producers faced a similar predicament, having to adjust pricing for items that include a higher share of imported elements. (Source: Socialbites.ca)
Shestakov noted that the ruble’s weakness pulled up costs across the supply chain. Imported furniture price levels grew the most as a direct consequence of currency depreciation. Foreign brands, unlike their Russian counterparts, cannot easily manipulate pricing in response to exchange rate shifts. Meanwhile, Russian manufacturers still faced cost pressures from components obtained abroad, prompting price revisions on several items. (Source: Socialbites.ca)
The expert highlighted that certain cost components remain heavily dependent on imports, including spare parts, upholstery fabrics, finishes, paints, and chemical additives. In fact, Russia’s dependence on foreign fittings is substantial, with approximately 95% of such components sourced outside the country. This reliance means even routine changes in exchange rates can ripple through the cost structure of furniture production. (Source: Socialbites.ca)
According to Shestakov, the choice of coatings or paints has a relatively modest effect on consumer prices, whereas fittings can account for as much as forty percent of a furniture piece’s total cost. This explains why cabinet furniture, particularly kitchen cabinets, have experienced meaningful price increases despite other materials remaining comparatively stable. (Source: Socialbites.ca)
Prices for upholstered furniture have risen as well, driven by the higher expense of imported hardware and fabrics. In practice, sofas with complex foreign folding mechanisms contribute to higher bills, while upholstered items built with domestic spring systems have become slightly cheaper. The cost trajectory for stools, tables, and beds has not shown the same degree of increase. (Source: Socialbites.ca)
Vadim Chernushkin, Executive Director of Angstrem, told socialbites.ca that furniture production costs in Russia are projected to rise by 17-20% by year-end, a development that would likely translate into higher consumer prices across the market. (Source: Socialbites.ca)
Earlier coverage noted growth in Moscow’s furniture production, underscoring a broader national context in which price dynamics interact with production output and import dependence. (Source: Socialbites.ca)