During the pandemic in 2020, the need for buyers to purchase personal luxury items decreased significantly. Based on the data provided in the Deloitte report, it can be concluded that by 2023 the market has fully recovered and is showing active growth in the PLG (Personal Luxury Goods) sector.

The study showed that between 2015 and 2021, sales in the PLG sector, in particular clothing, cosmetics, perfumes, watches and jewelry, steadily increased, constantly increasing profitability — EBITDA. Thus, the index of sales of personal luxury goods increased from 103 in 2015 to 143 in 2021, while the cumulative annual growth rate (CAGR) was 6.1%. For comparison, the sales index of other luxury sectors increased from 100 to 128, with an average annual growth rate of 3.6%.

The fashion industry in Russia is a significant segment of the national economy. Today, luxury fashion is experiencing its revival in Russia, this is due to the desire of consumers of a more affluent class to demonstrate their status. Statista analysts predict that by the end of 2024, the domestic market for fashionable luxury clothing will amount to 324.60 million dollars. The expected growth rate of the market in the next few years will be 1.45% year-on-year (CAGR 2024-2028).

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