IKEA sold its last asset in Russia

The agreement was approved by the government commission for the control of foreign investment under the direction of Finance Minister Anton Siluanov.

According to one of the publication’s sources, after IKEA ceased operations, the warehouse was left unused. It is still unknown who will be the new tenant of the complex.

The agreement was approved by the government commission for the control of foreign investment, chaired by the Minister of Finance, Anton Siluanov. According to the RBC interlocutor, the transaction met the established requirements, including a mandatory discount and a voluntary contribution. In October, the authorities increased the minimum discount from 50 to 60% and increased the contribution to the budget from 15 to 35% of the cost. However, as the source clarified, the agreement with Ingka Group was carried out under the conditions prior to the changes.

The head of the department of warehouses and industrial real estate at CORE.XP, Anton Alyabyev, estimated the market value of the complex in Esipovo at 16-18 billion rubles.

• The Swedish IKEA announced plans to leave the Russian market in 2022, following the start of a special military operation in Ukraine. In August of the same year, the retailer made its last inventory sale and in March 2023 it sold its last location in the country.
• After the departure of IKEA in Russia, 20 million units of products remained unsold, which were purchased by Yandex Market in 2022. In 2023, Yandex hired Kotyuga and his team to increase the number of suppliers and manufacturers on the market, as well as to develop an online furniture selection designer.
• In November 2024, the former team of the IKEA business unit in Russia moved to the Hoff furniture chain. The former head of the Russian IKEA purchasing business, Alla Kotyuga, also joined the company.