Russian BPC market stays strong in 2014

Published: 3-Feb-2015

Russia’s cosmetics market is robust, although rouble decline has prompted uncertainty

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By Mark Rowe

Russia’s annexation of Crimea and the continuing conflict in the east of Ukraine overshadowed international events last year. But Russia’s cosmetics industry has proved resilient and even maintained ties with Ukraine.

Despite the concerns and challenges, the forecasts for the calendar year 2014 are buoyant. According to the Perfumery and Cosmetics Association of Russia (PCAR), the projected volume growth in local currency compared with 2013 will be 10%, and the market will reach Russian roubles RUB533bn (US$8.8bn). The recent swings in the rouble have also yet to have an impact on the industry, though analysts believe this will feed through to a preference for cheaper, domestic brands. “Sanctions, lowering consumer interest and currency fluctuations have not affected the cosmetic industry to any great degree; Russia remains the fourth largest market in Europe,” says Anna Dycheva-Smirnova, a board member of PCAR and Sales and Marketing Director of Reed Exhibitions Russia.

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