IKEA is going to expand production in Russia by billions of dollars
Stockholm - Kyiv, January 22 (PolitNavigator, Vasily Ablyazimov) - The largest Swedish corporation IKEA is planning billion-dollar investments in Russia, they report German economic news.
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“The Swedish furniture manufacturer IKEA plans to expand, despite the crisis in Russia, its production and sales network. Last year, IKEA had about six billion euros in turnover on the Russian market. In the future, department stores, shopping centers and even production facilities in Russia will be strengthened,” the publication reports.
“We want to make IKEA accessible to more people,” company spokeswoman Daniela Rogositz said.
“Thanks to IKEA department stores and shopping centers, Russia is one of our fastest-growing markets,” the company said in its annual report in 2013.
Rogosits stated that the corporation’s goal is to double sales to Russia by 2020. There are also plans to build a new plant in Velikiy.”
The largest Swedish clothing and cosmetics manufacturer H&M is also confident in the Russian market and plans to increase sales. H&M officially announces “great opportunities for expansion in Russia.”
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