Russians are warned about rising prices for clothing and footwear in 2019

UFA, 25 September 2018. /Bashinform News Agency, Ksenia Kalinina/ translated by Tatiana Aksyutina/. Russians are warned about the increase in prices for clothing and footwear in 2019. The increase could be 10-20 percent in the premium segment and 5-10 percent in the budget segment. This is due to the weakening of the ruble and the increase in the VAT rate from 18 to 20 percent, RBC reports.

Anna Lebsak-Claymans, General Director of Fashion Consulting Group, believes that unlike food prices the prices for clothes and shoes usually grow with some delay. Fashion brands postpone the increase in the price of clothing to keep customers.

Pricing in the fashion segment is highly dependent on the exchange rate, BAON President Ilya Yaroshenko says.

"The financial safety margin of companies is not unlimited, and past crises have already led to the fact that it is impossible to keep prices at the expense of our own resources, thus in 2019 prices in retail may rise in the same way as currency," Yaroshenko explains.