Manufacturers Considering Russia Operations
- New Europe Investor
- March 31, 2016
A variety of retailers including, IKEA, H&M and Zara are considering moving production to Russia according to the TASS news agency in the country.
The Spanish multinational Zara, has been in talks with the Ministry of Industry and Trade in Russia. Zara currently manufacture in Europe and Asia, and has 2,000 stores across the globe.
Swedish companies, IKEA and H&M are also looking to move production to Russia.
Finally the French sportswear retailer, Decathlon has been in talks with the Ministry.
There is evidence that some Russian companies that manufacture abroad are looking to move production back to home soil. With the value of the ruble lower in recent years due to lower oil prices and the recession in the country, Russian clothes retailer Sela who currently manufacture in China, is looking to work with some producers in Russia.