The Russian capital ranked third in top 10 most attractive cross-border retail destinations in Europe, the Jones Lang LaSalle consulting company said on Wednesday.
The company’s experts analyzed the presence of 150 leading international retailers within 55 European markets and created an index. It reveals that Moscow attracts the third greatest number of international retailers after London and Paris.
“The sustainable growth of the disposable incomes of Moscow’s 15 million inhabitants has steadily boosted retail sales for the past three years. Moscow, still under development, now accounts for the third largest retail market in Europe and is the gate to a market of 140 million consumers,” Maxim Karbasnikoff, head of retail with Jones Lang LaSalle in Russia the CIS, was quoted in a statement as saying.
“The gloomy economic situation in Europe pushes global retailers to seek new growth territories and Moscow will keep being high on their priority list,” he added.
Russia’s newcomers in 2011 include Berghaus, Diesel, DKNY, American Eagle Outfitters and Victoria’s Secret as well as many other firms, while at least 10 retailers plan to enter the Moscow market this year, including Debenhams, Seattle’s Best Coffee, Muzz Buzz, Brisket Express and Krispy Kreme.