There may be a ban on Western imports to Russia, but political turmoil has not derailed plans for French trade show giant Eurovet from pursuing the $5.8 billion lingerie and swimwear business in the Russian market.
In order to address the fast-growing popularity of the intimates and swimwear sector in Russia as well as 10 Commonwealth Independant States, Eurovet has partnered with leading German trade fair organizer Igedo Co. to expand the CPM Body & Beach venue.
Igedo has operated the first fashion fair for men’s, women’s and children’s apparel at Moscow’s Expocentre since 2003, a format that grew to over 1,700 exhibitors in March 2014 and welcomed 850 retailers.
The CPM Body & Beach edition was tested in September 2012 with 80 Russian and international brands from 15 countries.The second co-owned Eurovet session is scheduled for February 2015 and is expected to more than triple in size, according to Eurovet’s chief executive officer Marie-Laure Bellon. A date has not yet been set.
The show’s name, CPM Body & Beach, will eventually be changed to Moscow Mode Lingerie & Swim, in line with Eurovet’s new global marketing campaign.
Bellon described the new partnership as a “win-win” situation. “Russia and the CIS make up a geographical area of significant and strategic importance to lingerie and beachwear brands. These regions are in on-going development with an already well-developed retail sector, a sense of brand recognition, and a taste for luxury goods that has been evident for a number of years,” she explained.
Regarding political tensions in the region, Bellon said, “The political crisis as well as the economical constraints are real, even if it hasn’t yet impacted the lingerie and swimwear industries…But our agents on site report that the interior demand is not being impacted by the international context. For Eurovet, it was important to place a flag in Russia which is a strategic region with a strong specialty store infrastructure that has a strong desire for high-end lingerie.”
Phillip Kronen, managing partner of Igedo, said the partnership will lead to “greater developments.” He added, “It could possibly lead to our establishing a separate platform in Russia that is like CPM, but just for lingerie.”