Major Russian furniture manufacturers plan to open stores in Mongolia, Azerbaijan, Uzbekistan, Kazakhstan, Turkey and the United Arab Emirates (UAE). Kommersant reported on Friday referring to the companies.
"Angstrem" will open its first store in Mongolia by the end of the spring, the company also plans to enter the market of Azerbaijan, Kommersant reports.
In turn, the founder of Divan.ru, Anton Makarov, told the newspaper about the plans to open stores this year in Uzbekistan, where the company has earlier launched production of garden furniture, and in several cities in Kazakhstan.
"Ascona plans to open stores in the third quarter under the main brand and under the Grether&Wells brand in the premium segment in Turkey and the UAE.
According to Kommersant, the companies are looking for development opportunities in new foreign markets due to EU restrictions on exports of furniture from Russia in 2022. According to the Association of Furniture and Wood Processing Industry of Russia, in 2022, furniture exports from the Russian Federation in monetary terms decreased by 40% to 29.5 billion rubles. The share of export sales of manufacturers from Russia decreased to 8% in 2022 from 16% a year earlier, the publication notes.
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Based on materials from TASS