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Reuters
Reuters
Business
By Roman Churikov

THE TRUTH ABOUT: Russian clothing brands plug gap left by western rivals | History Defined

FILE PHOTO: People line up to enter an H&M store, which was reopened to sell the remaining stock before the company exits the Russian market, in Moscow, Russia August 2, 2022. REUTERS/Maxim Shemetov

Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning.

Hundreds of foreign retailers shut up shop in response to Russia despatching troops to Ukraine in February 2022, leaving some of Moscow's most prestigious streets with boarded up stores and the industry reeling from a roughly $2.5 billion hit.

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