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Published in:
2014 | OriginalPaper | Chapter
How History, Culture, and Demography Drive Luxury Consumption in Russia
Authors : Irina Kulikova, Frédéric Godart
Published in: Luxury Brands in Emerging Markets
Publisher: Palgrave Macmillan UK
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Together with the other BRICS countries — Brazil, India, China, and South Africa — Russia demonstrates a high potential for luxury consumption. With a total population of approximately 143 million people, a growth in gross domestic product (GDP) of 4.3 per cent in 2011, and 3.4 per cent in 2012 (The World Bank 2013), the Russian market has attracted the attention of the majority of Western luxury brands, who have established their presence in the major cities of the country by opening their own boutiques or selling their goods through major distributors.