Abstract
The luxury market in Russia has evolved to become a key strategic market. Following a decline in the market value in 2009 as a consequence of the financial crisis, the market has since rebounded.1 According to our industry data, the value of the luxury market in Russia increased by 21 per cent in 2011, which is comparable to growth rates in other key emerging market destinations, such as China and India. Luxury companies are responding to this strong and sustainable growth in consumer demand with retail expansion. For example, a new department store, DLT, was opened by the luxury operator Mercury in 2012 and two new Chanel stores were opened in St. Petersburg in 2013.
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References
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© 2014 Daria Yadernaya
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Yadernaya, D. (2014). Distribution Options and Consumer Profiles in the Russian Luxury Market. In: Atwal, G., Bryson, D. (eds) Luxury Brands in Emerging Markets. Palgrave Macmillan, London. https://doi.org/10.1057/9781137330536_6
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DOI: https://doi.org/10.1057/9781137330536_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46108-0
Online ISBN: 978-1-137-33053-6
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