Russia’s Sportmaster posts a 2023 revenue hike

Russian sporting goods behemoth Sportmaster solidified its position as the country’s largest fashion retailer in 2023, thanks to a 14 percent hike in revenue to 160 billion rubles last year. Sportmaster generated nearly 70 percent more revenue than Kari and twice as much as Gloria Jeans; the companies ranked second and third in the list of the biggest Russian fashion retailers, respectively, a local news outlet, Retail Fashion, reported.
Generous advertising expenditures are believed to be a factor helping Sportmaster keep its sales high. The latest available data indicates that the company spent 1.2 billion rubles on advertising during the first eight months of 2023, more than any other fashion retailer in...