PRESS: Exec says Ikea plans to invest 100 bln rbl in Russia till ‘23

MOSCOW, Sep 8 (PRIME) -- Swedish furniture maker Ikea plans to invest 100 billion rubles in Russia over the next five to seven years, CEO of the Russian division Milen Genchev told business daily Vedomosti in an interview published on Thursday.

“This amount includes extension of the malls, construction of new stores, and also extension of a distribution center in Yesipovo,” Genchev said.

The official said that Ikea does not rule out changing its strategy in order to acquire existing malls over construction of own outlets on waste land. In particular, Ikea is considering acquiring a mall inside the Moscow Ring Road.

(64.3804 rubles – U.S. $1)

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