TAGS: asia,russia

Russian Market Attracts New Business

Nervousness among most of the big international brands means that the Russian market can now offer great opportunities for the rest of the field. Importers and local businesses are taking their chances, especially in sectors like hair & beauty, where a new kind of stylist is helping to lead salon recovery.

Sergey Popov is based in Moscow and he is the publisher of the Russian edition of Estetica. He recently visited Italy, where he met up with the Estetica Export team. He gave us some updates on the Russian market, which we are happy to share with our readers. We all know that Russia’s economy is being troubled by the ongoing war with Ukraine and the economic and trade sanctions imposed by many Western countries.

Sergey Popov

Not without our surprise Popov reveals that “Nowadays, the Russian market is full of opportunities, thanks to a phenomenon that started at the beginning of the war,” explains Sergey. “At that time, sanctions obliged big foreign brands to close their outlets and leave the Russian territory. Now about 75% of the market is open for new companies who want to take advantage of the situation and I have to say that many domestic and foreign brands are doing so”.

Sergey also explained that the opportunities in the Russian market are even greater in hair & beauty because the biggest players (Wella – 40% and L’Oréal – 35%) have lost almost all their market share leaving wide spaces for other brands to expand into.
I can say that the mainstream market is now represented by beauty brands created by top Russian stylists,” he continues. “Nevertheless, the market demand for quality products is high, especially for specialized foreign brands.

While most salons are holding their own, there has been a redistribution of clientele, with top salons keeping their share while the medium level is shrinking in favour of cheaper salons – especially those belonging to franchising barber chains such as TopGun.
An interesting aspect of the market is also the meteoric success of a number of new stylists that are attracting a vast client base. The characteristics of these new hairstylists are all similar: young women with good education and 10 or more years’ experience in hairdressing. They have an attractive brand image and personal profile, while offering avant-garde education and seasonal fashion collections. In some cases, they even have their own personal range of hair products.

Sergey Popov has contacted some of the most successful of these young women top stylists: Alesya Teperikova, Angelica Grechkina, Julia Vorontsova and Tatyana Lisina. CLICK HERE for the interviews.

In the main picture a group of Russian hairdressers participating in a Seminar by Tatyana Lisina

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