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IKEA Is Ready To Invest
January 26, 2015 16:59


One of the world’s largest furniture retail chains - the Swedish IKEA - plans to invest 19 billion Swedish kronor (about $ 2.3 billion) in the company’s operations in Russia until 2020.

This was reported to the Swedish edition “Dagens Nyheter” by the company’s spokeswoman Daniela Rogosich. “We want to double sales in Russia by 2020. The main focus is on the Moscow market, but we also consider the possibility of opening new stores in 25 other cities with population over 500 thousand people” – Rogosich said.

According to her, the plans of IKEA include construction of a plant in Veliky Novgorod for production of cabinets, kitchen sets and storage systems. Russia is one of the fastest growing markets for IKEA. As it was stated in the report of the company for 2013, Russia took the fourth place in the annual sales plan of IKEA and was ahead of Sweden itself on this indicator.

In March the Director of IKEA in Russia Walter Kadnar said that the company intended to invest 2 billion euros in the Russian market until 2020. During the fiscal year 2014 the number of visitors of MEGA shopping centers belonging to the IKEA chain has grown to 270 million, while the sales of tenants grew by 6%, according to the company’s press release.

IKEA is not the only retailer planning expansion, despite the deterioration of relations between Russia and Europe and the fall of the Russian economy. In late December it became known that the German Tengelmann Group, which is known in Russia for its OBI stores of household goods, plans to launch a new network – ‘Plus’ food discounters - in 2015.

Author: Anna Dorozhkina

Tags: IKEA investments    

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