MOSCOW TIME: 18.05.2024 21:47:05
IKEA, a major furniture retailer owning 14 trade centers in Russia, has launched a furniture factory in Novgorod
IKEA launches furniture factory in Novgorod
IKEA, a major furniture retailer owning 14 trade centers in Russia, has launched a furniture factory in Novgorod. "We aim to develop our entire production and sale chain on a long-term basis. This will enable us to attract more Russian consumers," the company reported on Wednesday. Apart from Novgorod, IKEA also has another three production sites in Russia – in the Moscow Region (cabinet-type furniture), Leningrad Region (full timber processing cycle) and Kirov Region (solid wood furniture). The new Novgorod based factory capable of producing 7 million sales units annually will manufacture frames for wardrobes and kitchens. IKEA spent about RUB 4 billion for the factory. The factory's close vicinity to the key sales markets of Saint Petersburg and Moscow will allow cutting transport costs, according to the Sweden chain.
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