Luxury retail executive forecasts a recovery of Ukraine luxury market for earliest 2011
Maurizio Aschero, one of the top executives of HELEN MARLEN, leading luxury retailer in Ukraine estimates the market will see a recovery in 2011 at the earliest. He comments on LUXURYSOCIETY.COM: ”Considering the harsh political and social situation, and the complete lack of local new luxury retailers, I suppose that the recovery will not be in 2010, but most probably on the first semester of 2011. In January the presidential elections will take place, this will slow again any possibilty of general recovery, for months. I believe that the market will nevertheless increase in value (few other top brands have signed already the franchise agreements), but the growth rate of the last 4 years will be just a far dream”.
Helen Marlen is the franchisee of Gucci, Yves Saint Laurent, Roberto Cavalli, DSquared, Salvatore Ferragamo and Loro Piana – all with mono brand boutiques.