Time to take stock: How has the fashion industry survived in 2024?

Leap year, karmic, rich in eclipse corridors, retrograde planets and the “beaver Moon” – last year did not shy away from showing us its strengths. It seems that 2024 will be remembered as a difficult year by everyone except the fashion industry. This is where the stars aligned pretty well. If last year fashion retail occupied 20% of the turnover of the country’s entire consumer market (3.6 trillion rubles, just for a minute), this year experts predict a record figure of 4.3 trillion rubles.

On November 29, at the RBC Event Center, where the work “Fashion in Russia as a business” was presented, we learned that fashion is healthy. RBC’s big review as part of the RBC + VOYAH Fashion November project.

Read what forecasts and trends were discussed at the event in this material.

Modern fashion is developing every year and, like any science (let’s not be afraid of this word), it requires study and a broader perspective.

RBC has seized the opportunity to monitor the evolution of the fashion industry and has conducted extensive research into the fashion industry to discover opportunities for innovation and growth in an environment of constant change. The results of the study were presented in an entertaining format by RBC Style editor-in-chief Evgeniy Tikhonovich and Ida Galich.

We learned not only about numbers, but also how to reach these numbers. Market leaders are actively using the expansion of the product range and conquering relevant categories: household goods, newborns, sports, etc. The trend to use all possible channels is also developing. Sales are carried out both in offline stores and online: in design areas, brand websites and social networks.

I would especially like to mention charm stores, which is a marketing tactic whose purpose is to surprise the buyer. To do this, retailers open cafes and lounge areas directly in boutiques and create installations as in contemporary art galleries. Agree, it’s nice when you can combine shopping, a delicious snack and the pleasure of visual harmony.

“Shopping malls, department stores, concept stores, pickup points, multi-brands, points of sale, retail chains and resale” – this was the list presented in the presentation about the capabilities of the modern consumer. And we envied ourselves. According to RBC, there are about 35 million square meters in Russia. m2 retail area with approximately 70 thousand points of desired goods. But they are all experiencing a crisis of uniqueness: 45% of consumers criticize the monotony of the assortment.

Most of the problems in the modern fashion industry arise from the lack of specialized specialists. Despite high salaries (up to 250,000 rubles, according to HeadHunter), university and college graduates refuse to tie their future to the factory due to lack of status and career prospects. Colleagues think that it is necessary to talk more clearly and frequently about the status of this profession, income level, attractiveness of the job and transfer of experience.

According to the research, 42 to 60 percent of respondents trust the opinions of stylists, bloggers and influencers. But there is one thing: People no longer trust the masses. The precious 1 million subscribers is no longer an indicator of success, but a hint of paid publications. Consumers are attracted to accounts that align with the brand’s aesthetic and style.

Within the scope of the study, a rating of 500 Russian clothing and accessories brands was created. The most promising ones, according to RBC, were GJ (unsurprisingly after the commercial with Irina Shayk), O’STIN, Zolla, Kari and Lime. Brands went through a strict selection based on 11 indicators. It is interesting that only 500 out of 1,200 companies are included in the list.

The next item on the business day program was investment presentations, which gave fashion companies the opportunity to briefly but clearly present their projects. Three business sessions on “How to make money from fashion in Russia”, as well as the awarding of the RBC x VOYAH Fashion Prize to young designers. Guests were invited to continue their conversations with an evening cocktail accompanied by pleasant musical sounds.