Due to a sharp increase in the cost of raw materials and other costs of manufacturers, prices for clothing from Russian brands may increase by 22% from current values by the end of the year, Vedomosti writes, citing a representative of Fashion Factory School (part of the Ultimate Education holding).
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As part of the study, Fashion Factory School specialists conducted a "market analysis" and surveyed 150 Russian brands. It turned out that from January 1 to September 1, 2024, the cost of fabrics increased by an average of 21% year-on-year, accessories by 19%, and additional materials by 20%. The cost of sewing increased by 18% against the backdrop of rising staff salaries. Market participants also confirmed the planned increase in clothing prices in the near future. The greatest increase in price will affect products made from natural fabrics.
The trend of rising prices for clothing in Russia since the beginning of the year was also recorded by CRPT (the operator of the Honest Sign labeling system). In particular, in January-August 2024, the average price of jackets increased by 9.3% compared to the same period last year, vests rose in price by an average of 10%, and coats by 4%. On the Wildberries marketplace, the average price for a jacket in January-July (the latest available data for downloading) was 3,070 rubles, which is 4% higher than for the same period last year. On Ozon, the average bill for a Russian-made jacket increased by 6% over eight months.
Mikhail Burmistrov, CEO of INFOLine Analytics, noted that about 80% of clothing sold in the Russian Federation under Russian brands is sewn abroad (mainly in China) and almost all raw materials for the production of these goods are also purchased abroad. However, the costs of sewing enterprises are also growing in relation to internal transactions.
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