Turkish Brands' Collapse in Russia: 10 Markets Exit Amid Market Reshaping

Russia's Turkish retail brands are experiencing a mass exodus as 10 Turkish markas withdraw from the market. Madame Coco, Chakra, NetWork, OXXO, Beymen Club, Karaca Home, and Les Benjamins are closing stores, while Mudo exits in 2025 and Ipekyol and Twist closed in 2023. NF Group's research shows that 15% of 39 struggling brands in Russia are Turkish, driven by rising operational costs, low brand awareness, and the rise of online platforms. LC Waikiki and Koton continue growing, but newer entrants face intense pressure. In 2026's first half, Russia's mall traffic declined by 2%, and clothing stores by 5%.

The failure of Turkish brands in Russia reflects strengthening local competition and the withdrawal of Western players. The tightening of KOBI lending and monetary policy measures may further exacerbate this trend in the banking sector.