RUSSIAN MIDDLE CLASSES
December 1st, 2002
BY MARK ROWE
THE RUSSIAN footwear industry is enjoying a boom as a result of a rise in the disposable income of the country's post-Soviet middle classes. Higher salaries coupled with low utility and housing costs have left 10 million Russians with money to spare and the footwear industry has been one of the beneficiaries. According to Expert magazine and Monitoring.ru, which conducts joint surveys on the Russian middle class, Russians spend a high proportion of their spare cash - 10 per cent - on footwear and clothing.
THE RUSSIAN footwear industry is enjoying a boom as a result of a rise in the disposable income of the country's post-Soviet middle classes. Higher salaries coupled with low utility and housing costs have left 10 million Russians with money to spare and the footwear industry has been one of the beneficiaries. According to Expert magazine and Monitoring.ru, which conducts joint surveys on the Russian middle class, Russians spend a high proportion of their spare cash - 10 per cent - on footwear and clothing.
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