TASS: IKEA expects to return to Russia within two years
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Swedish retailer IKEA has no plans to sell its business in Russia, informs TASS, citing a source close to the company. The company expects to reopen stores and warehouses in Russia within two years.
“IKEA is not going to sell its business to anyone in Russia, which it has never done in other countries. The retailer plans to return to the Russian Federation on its own within a year or two, after the change in the economic situation and the weakening of sanctions pressure. Shops – the so-called blue boxes – will be closed until the return of IKEA, possibly rented out next year, ”said the agency’s interlocutor. He also specified that about 700 people will continue their work in the Swedish company. IKEA has provided employees with alternative employment options or minimum wages with the prospect of returning to the team.
Nevertheless, due to pressure from Sweden, according to the source, the company will still sell some plants in Russia. However, the deal will go through with the condition that in the future these factories will produce furniture and other products at an affordable price for their orders. There are three IKEA factories in Russia: in the Moscow, Kirov and Novgorod regions.
After the start of the Russian military operation in Ukraine, IKEA announced on the suspension of all stores in Russia and Belarus, and on June 15, the retailer announced a reduction in its presence in the country. Later in the retailer’s online store started final sale of the remaining goods. But due to technical problems, ordering was suspended until August. Mid-August IKEA stated on the liquidation of the Russian subsidiary by decision of its sole participant Ingka Holding Europe BV
On the departure of IKEA from the Russian market – in the material “Kommersant” “Have an idea, no IKEA.”
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