OREANDA-NEWS. Prices for clothes and footwear in Russia from January may rise by 20%, writes RBC.

According to Ilya Yaroshenko, president of the Baon retail chain, in the fall, collections of the new season will cost 10-15% more. At the same time, the owner of the Gloria Jeans company, Vladimir Melnikov, predicted a price increase of 18-20% at the beginning of 2022.

As retailers clarify, the coronavirus pandemic and problems in the operation of Chinese ports have led to additional freight costs. In addition, the cost of cotton and synthetic elastane has increased significantly.

Some market participants linked the upcoming rise in prices to the weakening of the ruble. Investments in stores account for even more because of the record rise in prices for building materials, in particular wood and metal.

Back in March, the media reported that by the beginning of the summer season in Russia clothing, footwear and accessories may rise in price. This, again, was explained by the increase in the cost of materials (including cotton by 30–35%) since the beginning of the year, logistics costs and the cost of increasing the wage bill. At the same time, the Ministry of Industry and Trade did not agree that the rise in the cost of cotton will affect the prices of clothes, since the fabric accounts for about 20% of the cost of products and today the market is mainly represented by products that do not contain 100% cotton.