IKEA mulling EUR 1bn investment

Swedish furniture manufacturer IKEA is in talks over building a factory in Serbia in a EUR 1.1bn deal, says PM Mirko Cvetković.

Izvor: B92

Wednesday, 01.10.2008.

14:25

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Swedish furniture manufacturer IKEA is in talks over building a factory in Serbia in a EUR 1.1bn deal, says PM Mirko Cvetkovic. Cvetkovic says that he expects IKEA officials to visit Belgrade in the coming days to discuss the planned investment, though he refused to specify the details of the negotiations. IKEA mulling EUR 1bn investment There has been talk of IKEA entering the Serbia market for several years now, and it was reported two years ago that the company was looking for land to build a new facility. Former Trade Minister Predrag Bubalo said at the time that the Swedish manufacturer planned to open five stores in Serbia. After an IKEA delegation met with Bubalo and President Boris Tadic in Belgrade, the Swedes were told them that the company would be welcomed with open arms to Serbia. It was about fifteen years ago that IKEA first recognized the opportunities this market had to offer, when it bought and registered 20ha of land in Novi Banovci with a view to opening a store there. However, following the outbreak of war in the region, the company was forced to rethink its strategy and dropped its planned investment. IKEA was founded in 1943 and in little more than 60 years, it has achieved the status of the world’s largest furniture retailer. The company owns more than 200 department stores worldwide, and employs more than 100,000 people. The key to the company’s success lies in the company’s strategy offering a wide selection of products at low prices. In recent years the company has expanded to Russia.

IKEA mulling EUR 1bn investment

There has been talk of IKEA entering the Serbia market for several years now, and it was reported two years ago that the company was looking for land to build a new facility.

Former Trade Minister Predrag Bubalo said at the time that the Swedish manufacturer planned to open five stores in Serbia. After an IKEA delegation met with Bubalo and President Boris Tadić in Belgrade, the Swedes were told them that the company would be welcomed with open arms to Serbia.

It was about fifteen years ago that IKEA first recognized the opportunities this market had to offer, when it bought and registered 20ha of land in Novi Banovci with a view to opening a store there. However, following the outbreak of war in the region, the company was forced to rethink its strategy and dropped its planned investment.

IKEA was founded in 1943 and in little more than 60 years, it has achieved the status of the world’s largest furniture retailer. The company owns more than 200 department stores worldwide, and employs more than 100,000 people.

The key to the company’s success lies in the company’s strategy offering a wide selection of products at low prices. In recent years the company has expanded to Russia.

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