The Swedish company sold its last asset in the Russian Federation – a warehouse in Esipov near Moscow – “the key for the development of IKEA in Russia.”
The Swedish company Ingka Group, which owns the IKEA household goods chain, sold its last asset in Russia – a warehouse in Esipov near Moscow, the so-called “key for the development of IKEA in Russia.” It was reported by Radio Liberty.
The warehouse was bought by businessman Robert Uzilov, who already had several similar premises. A representative of the businessman confirmed the purchase to journalists. Experts estimate the value of the warehouse at 18 billion rubles ($184 million).
The Ingka Group opened the warehouse in 2003. Gradually its area increased to 18 hectares. The center served all of the retailer’s stores, which the company’s general director called “the key for IKEA’s development in Russia.”
IKEA, in response to Russia’s massive invasion of Ukraine in 2022, suspended operations in the Russian Federation, and in 2023 sold all of its major assets:
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factories,
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mega shopping centers,
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headquarters in Khimki business park.
As you know, the Ministry of Foreign Affairs reported in 2023 that it is working to return IKEA, H&M and Zara and other brands to Ukraine.
IKEA returns to Ukraine – media
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.