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IKEA invests RUB 100 bln in Russia

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IKEA invests RUB 100 bln in Russia

IKEA, a multinational group of companies supplying ready-to-assemble furniture, intends to invest 100 bln roubles in Russia over the course of 5 – 7 years, until 2021 – 2023, director general of IKEA Centres, Milen Gentchev, told Vedomosti on Wednesday.

In an interview to the newspaper, which was published on Thursday, Milen Gentchev said that these funds would be allocated to the construction and purchase of new trade centers all over the country, including the area inside the Moscow Ring Road. In addition to that, a distribution center is planed to be expanded in Yesipovo.

IKEA was founded in 1943 in Sweden and at present the company owns 328 hypermarkets in 28 countries. Fourteen MEGA malls, which include IKEA stores, have been built in 11 large regions of Russia.

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