IKEA plans a more than 2 billion USD investment in Russia
The Russian subsidiary of IKEA plans to invest at least 2.1 billion euros more in new and existing Mega shopping malls in Russia by 2020, it said on Thursday, reaffirming long-term expansion plans for the country despite an economic downturn.
The head of IKEA Shopping Centres Armin Michaely, presenting the company's long-term strategy to tenants, said the next mall — IKEA's 15th in Russia — would open in Mitishchi, just outside Moscow, in 2018.
Out of 2 billion euros earmarked for investment in Russia, 40 percent would go to existing stores and 60 percent to opening new stores, he said.
Related news
The drastic rise in prices on the Hungarian furniture market seems to have stopped
In the recent period, the pace of drastic price increases…
Read more >Retail trade and FMCG have become more attractive to workers
On 25 April Randstad Magyarország published the list of Hungary’s…
Read more >This year’s Russian grain harvest could be the lowest since 2021
This year’s Russian grain harvest may be the lowest since…
Read more >Related news
Tetra Pak has announced that Alex Henriksen will be the managing director of the Eastern European region
Tetra Pak, one of the world’s leading food processing and…
Read more >Coca-Cola Hungary has developed new educational modules on waste circulation
After the online curriculum on the basics of the circular…
Read more >Auchan has appointed a new product director
From July 1, László Varga will perform the duties of…
Read more >