Russian jewelry retail chains are trying to replace foreign brands, writes Kommersant . In particular, the Sokolov company has opened premium boutiques , in the assortment of which buyers can find jewelry worth up to 1.6 million rubles.
Photo: Stankovskaya V./Retail.ru
The Sokolov retail chain opened 3 pilot stores in the premium segment in Moscow and St. Petersburg. These outlets will sell gold jewelry with precious stones in the price range from 50 thousand to 1.6 million rubles. According to a representative of the retailer, with an average check of about 100 thousand rubles, the annual turnover of one store should be approximately 150 million rubles.
The company emphasized that the prerequisite for Sokolov’s entry into the premium segment was the departure of global jewelry brands from Russia, which by the beginning of 2022 accounted for about 10% of sales. Since the beginning of 2022, a number of premium and luxury brands have stopped delivering to Russia and closed their stores here: among them are Bvlgari, Tiffani, Cartier, Van Cleef & Arpels, Boucheron.
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