Russian fashion is at a crossroads. Does it need to expand its presence abroad or focus on strengthening its national position? The answer requires a joint effort by business and the government.
Russian Export Center (REC, VEB.RF Group) brought together founders of successful brands, Russian Ministry of Industry and Trade, and international experts to discuss the future of the domestic fashion industry at the Made in Russia International Export Forum.
Leave or Stay: Russian Medium-Sized Business Strategy in Global Fashion discussion raised key issues in the development of Russian fashion:
What should brands do, scale internationally or focus on strengthening their position domestically? What factors determine success in international expansion, and how can they maintain their national identity in the face of global competition?
Over the past few years, global players have significantly reduced their presence in the Russian market. This has created unique opportunities for the development of domestic fashion brands and stimulated the growth of the mid-sized business segment of the fashion industry. The fashion industry is not only part of the country’s culture and style but also a significant sector of the economy.
In Russia, the share of fashion industry is approximately 1% of GDP—less than in leading global centers, where this figure reaches 3–4%. However, the domestic market is demonstrating stable growth and is increasingly attracting the development of the mid-market segment, which accounts for approximately 30% of the clothing and accessories market.
Nikolai Bogdanovich, founder and CEO, Monochrome, Andrey Migunov, co-founder and CEO, Poison Drop; and Lena Maksimova, designer and founder, MUUS, shared their personal experiences in developing domestic and foreign markets.
Alexey Bazhenov, Founder of the Institute for Fashion Industry Development and the Beinopen Alliance, leading expert and leader of the Fashion System Reengineering project at the HSE Institute for Creative Industries moderated the discussion.
Other speakers included Ksenia Bobyleva, Deputy Director of the Department of Light Industry and Forestry Complex of the Ministry of Industry and Trade of the Russian Federation, Safa Sharif A Khaliq, General Director of Export Bahrain, Marius Matas, Creative Director of the Univermag project at the National Center, Andrey Kovalev, founder of the Another Fashion Agency platform and partner of Oskelly, Ilya Vershinin, modeling agent and casting director, co-founder of Viral Talent Management modeling agency and Identikit casting bureau, Georgy Rostovshchikov, founder and General Director of Fashion Hub Russia and President of the International Buyer Hub, and Nikita Serov, founder of Serovski clothing brand and blogger at Insight People.
“The departure of global players created a window of opportunity for domestic brands some time ago. In this period of economic turbulence, only professionals will survive. Many Russian brands are facing a dilemma: whether to strengthen their position domestically or embark on international expansion. Among the 'export barriers' are logistics, financing, and intense international competition. Whether Russian brands need this, or whether we should focus on strengthening the domestic market now, is something the fashion industry will have to decide in the coming years,” Ekaterina Kondakova, session organizer and head of the Russian Export Center's Services Export Support Project.
Made in Russia International Export Forum is a key event of the year for Russian exporters. The Forum is organized by Russian Export Center. The Moscow Government is the business program partner. TASS is the general information partner. RIA Novosti is the exclusive information partner. Information partners include Channel One, Rossiya24, MAER Media, Vedomosti, Expert, Gazprom Media, and Insight People. Roscongress Foundation is the operator of the Forum's business program.
Russian Export Center (REC, VEB.RF Group) brought together founders of successful brands, Russian Ministry of Industry and Trade, and international experts to discuss the future of the domestic fashion industry at the Made in Russia International Export Forum.
Leave or Stay: Russian Medium-Sized Business Strategy in Global Fashion discussion raised key issues in the development of Russian fashion:
What should brands do, scale internationally or focus on strengthening their position domestically? What factors determine success in international expansion, and how can they maintain their national identity in the face of global competition?
Over the past few years, global players have significantly reduced their presence in the Russian market. This has created unique opportunities for the development of domestic fashion brands and stimulated the growth of the mid-sized business segment of the fashion industry. The fashion industry is not only part of the country’s culture and style but also a significant sector of the economy.
In Russia, the share of fashion industry is approximately 1% of GDP—less than in leading global centers, where this figure reaches 3–4%. However, the domestic market is demonstrating stable growth and is increasingly attracting the development of the mid-market segment, which accounts for approximately 30% of the clothing and accessories market.
Nikolai Bogdanovich, founder and CEO, Monochrome, Andrey Migunov, co-founder and CEO, Poison Drop; and Lena Maksimova, designer and founder, MUUS, shared their personal experiences in developing domestic and foreign markets.
Alexey Bazhenov, Founder of the Institute for Fashion Industry Development and the Beinopen Alliance, leading expert and leader of the Fashion System Reengineering project at the HSE Institute for Creative Industries moderated the discussion.
Other speakers included Ksenia Bobyleva, Deputy Director of the Department of Light Industry and Forestry Complex of the Ministry of Industry and Trade of the Russian Federation, Safa Sharif A Khaliq, General Director of Export Bahrain, Marius Matas, Creative Director of the Univermag project at the National Center, Andrey Kovalev, founder of the Another Fashion Agency platform and partner of Oskelly, Ilya Vershinin, modeling agent and casting director, co-founder of Viral Talent Management modeling agency and Identikit casting bureau, Georgy Rostovshchikov, founder and General Director of Fashion Hub Russia and President of the International Buyer Hub, and Nikita Serov, founder of Serovski clothing brand and blogger at Insight People.
“The departure of global players created a window of opportunity for domestic brands some time ago. In this period of economic turbulence, only professionals will survive. Many Russian brands are facing a dilemma: whether to strengthen their position domestically or embark on international expansion. Among the 'export barriers' are logistics, financing, and intense international competition. Whether Russian brands need this, or whether we should focus on strengthening the domestic market now, is something the fashion industry will have to decide in the coming years,” Ekaterina Kondakova, session organizer and head of the Russian Export Center's Services Export Support Project.
Made in Russia International Export Forum is a key event of the year for Russian exporters. The Forum is organized by Russian Export Center. The Moscow Government is the business program partner. TASS is the general information partner. RIA Novosti is the exclusive information partner. Information partners include Channel One, Rossiya24, MAER Media, Vedomosti, Expert, Gazprom Media, and Insight People. Roscongress Foundation is the operator of the Forum's business program.