With the recent devaluation of the Ukrainian currency (hryvna) and the continuing political crisis in the country, consumers have reduced the amount of clothing they buy or have even stopped buying new items.
Since the hryvna’s fall, price tags in the country’s stores selling mainly European clothing brands have risen considerably. According to Pavel Levchuk, marketing director of Ukrainian online clothing retailer La Boutique, in recent months prices have gone up by 40-90%. He said that as a result, Ukrainians now shop for basic items, reducing the number of similar items (for example, buying one dress instead of two) and avoiding accessories.
For the full story, see the January 2015 edition of Textiles Eastern Europe. Not a subscriber? Sign up HERE