Western jewelry brands begin to think about returning to the Russian market, but we are talking about those who leave voluntary volunteers who are not under the pressure of sanctions. However, for companies that have to leave due to restrictive measures, the situation seems more complex, the jewelry company Lardo, the founder of Larax, told Gazeta.ru.
“Many well -known jewelery brands have left the market for a long time, and the restoration of their return and even more positions will be difficult. Closed Cartier and Tiffany & Co boutiques with long -term contracts, but finally completed their activities last year, and Richemont Group has sold all equipment for a long time.
Russian jewelry companies cannot compete with multimilyon -oder investments, which have made centuries of history and western brands so recognizable. And foreign players are clearly interested in returning to the Russian market.
“As soon as the opportunity emerges, they will start using parallel import schemes through the UAE and other countries, but now such materials are not officially approved,” he said.
However, the return of world brands will not have a significant impact on Russian companies. In the last three years, domestic jewelers were able to strengthen their position on the market, they were able to actively declare themselves in the media and attracted the attention of consumers.
“However, those who are accustomed to buying the decorations of premium brands continue to do so by buying goods not only through official stores but through the official stores. They are informed about the existence of local jewelers and designers, but both did not buy and purchased their products. Some companies continued to cooperate with them.
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Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.