IKEA abandoned plans to sell the Russian business and announced the resumption of work within two years. Until the retailer returns to the market, stores and warehouses will remain closed, Kommersant writes.
IKEA plans to open stores within two years and will not sell its business in Russia. Some 700 employees of the retailer will continue to work, but all stores and warehouses will be closed until IKEA returns to the Russian market.
If IKEA factories are sold, the company reserves the right to manufacture products there at negotiated prices.
IKEA announced the impossibility of resuming sales in Russia with a statement about the sale of its four factories. In August, the retailer proceeded to liquidate its Russian subsidiary.
Author:
Kirill Bilyk
Source: RB
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