Russia's robust growth during much of the Noughties attracted FMCG companies big and small looking to for avenues of growth. The recent economic slowdown in the country has made trading conditions tougher. Firms need to...
Like its BRIC counterparts, Russia's economy, after a booming decade, was hit by the global financial crisis of 2007-09 and, compared to the turn of the century is seeing growth - but at a much slower rate. Dean Best reports.
European dairy co-operative Arla Foods has set out an ambitious growth plan for its Russian business. The firm has indicated it intends to triple sales in the country. Katy Askew caught up with Arla senior vice president Hans Christensen, who has overall responsibility for Russia and other emerging markets, to find out how.
With trade liberalisation expected to flow from Russia's recent move to join the World Trade Organisation, international food companies are increasingly attempting to capitalise on the potential offered by Russia's grocery retail market. As just-food learnt when we caught up with some of the UK exhibitors at the World Food Moscow trade show this month, it's not just multinationals that are making a push to grow in Russia. Small and medium-sized enterprises are also attempting to cash in on the aspirational shopping patterns of Russia's expanding middle class. Katy Askew reports.
Russia has been described as one of the most dynamically developing retail markets in the world. The advent of the recession, however, resulted in a slowdown in growth that Russia has not yet fully recovered from. While it is debatable whether Russia will fully re-establish the pace of growth it enjoyed before the credit crisis, the market is seen as an attractive one for FMCG companies.