Russian furniture chains eye IKEA’s shuttered factories, stores

Clients stroll in IKEA retailer, in Moscow, Russia, March 3, 2022. REUTERS/Employees/File Photograph

June 17 (Reuters) – Russian furnishings chain Tvoi Dom and one other model Hoff are each contemplating shopping for IKEA’s Russian belongings after the Swedish agency put its factories up on the market, Russian information companies reported.

IKEA closed its shops in Russia in March after Moscow despatched troops into Ukraine, prompting the West to impose sanctions.

The Swedish firm, the world’s greatest furnishings model, stated on Wednesday it aimed to promote its factories, would cut back its 15,000-strong workforce and was “exploring varied choices” regarding the way forward for its 17 shuttered shops.

“Administration is able to think about business proposals for the acquisition of IKEA’s belongings – retail and manufacturing websites,” Tvoi Dom spokesperson Amina Tagieva stated, in response to Tass information company on Friday. Different information companies carried related feedback.

Tvoi Dom, which implies “your own home” in Russian, didn’t disclose particulars.

Russian furnishings chain HOFF was additionally contemplating shopping for IKEA’s crops and renting a few of its retail house, HOFF Chief Government Maxim Grishakov advised RIA Novosti company on Thursday.

A whole lot of Western firms have left Russia prior to now 4 months. Firms comparable to McDonald’s (MCD.N), Renault (RENA.PA) and Enel (ENEI.MI) have written down lots of of hundreds of thousands of {dollars} in losses as they promote belongings at lower costs. learn extra

Reporting by Reuters; Modifying by Edmund Blair

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