Russia says IKEA, Inditex want to return

MOSCOW, Apr 21 (PRIME) -- Swedish furniture producer IKEA and Spanish clothes producer Inditex are considering rebuilding logistics to return to the Russian market, Deputy Industry and Trade Minister Viktor Yevtukhov said on Thursday at a meeting of the All-Russia People's Front.

“They have a very interesting format of work. IKEA is difficult to repeat. Still, they left two Mega malls operational and they are continuing building two more Mega malls, which means they did not stop investment in construction. They say that it is important for them to maintain a full assortment matrix, that everything will become clear soon, they will understand how to import products, and they will open again,” he said.

Inditex is focused on renewing collections several times per season, and it would be wrong for them to sell the same stock all the time. They continue saying that the Russian market is important for them, Yevtukhov said, adding that the sales of the Zara brand clothes in the single mall in Moscow outperform sales in Europe.

“That is why they obviously want to return to our market. But if they don’t, it will also be positive, as it will open good opportunities for our producers,” he said.

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