RUSSIAN COSMETICS MARKET REMAINS ROBUST, ALTHOUGH ROUBLE DECLINE PROMPTS UNCERTAINTY
December 1st, 2014
Russia's annexation of Crimea and the continuing conflict in the east of Ukraine overshadowed international events last year. But Russia's cosmetics industry has proved resilient and even maintained ties with Ukraine.Despite the concerns and challenges, the forecasts for the calendar year 2014 are buoyant. According to the Perfumery and Cosmetics Association of Russia (PCAR), the projected volume growth in local currency comparing with 2013 will be 10%, and the market will reach Russian Roubles RUB533 billion (USD8.8 billion). The recent swings in the rouble have ...
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