Fifth Avenue Sees Business Uptick in 2012
August 22, 2012
MOSCOW, Russia — Fifth Avenue is a well known decorative fabrics brand in Russia with 100 collections all in stock and business is up substantially this year, according to Mikhail Nazarov, principal.
The lines carried are primarily dual purpose and window treatments represent a status symbol to the Russian consumer in sharp contrast to upholstery which is treated as a utilitarian product.
Fifth Avenue carries product in the 10-40 Euro price range with many Italian brands including Casalegno Tendaggi and Giber window sheers. Fifth Avenue buys from 15-20 mills in Turkey, Italy and Spain. About 80 percent of its business is window related. The company started as a blinds importer in 1992. Mikhail Nazarov, principal of Fifth Avenue
Fifth Avenue operates in Ukraine through two agents and more recently in Kazakhstan through a sole agent, Nazarov said. The company participates in Heimtextil Russia in September and in Mosbuild in April. Nazarov attends Heimtextil Frankfurt and Proposte and relies heavily on his buying team headed by Olga Fimushkina, deputy chief of advanced procurement planning department and her associates, Nadezha Murzina and Elena Checherina.
“Quality is most important to Fifth Avenue. Delivery takes one month from Europe by truck but it can take one-three months total depending on production time and customs clearance in Russia,” Fimushkina explained. “We operate on trust. We pay our bills in 30-60-90 days depending on the vendor terms,” Nazarov said. We will never let our suppliers down. We need time to distribute our catalogs though. That could take three to six months. We have problems if the supplier discontinues its lines. We need that support.” (Piero Agnetta, a supplier to Fifth Avenue said that Nazarov pays his bills like a Swiss clock.)
Fifth Avenue prefers wide width designs in 280-330 cm. and colors in gentle pastels. The emphasis is on classical designs and luxury which is reflected in the type of books offered in the market. These books are made in Italy to exacting specifications. In room setting with lavish photography is a must.
“The cost of delivery is high in Russia because we have nine time zones. From Moscow to Vladistock will take you ten hours by airplane, “ Nazarov pointed out. “The product must be perfect when it is shipped to the customer and they want it always yesterday. If it’s not perfect, we have to pay double freight to get it there and back.”