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IKEA, the world's biggest furniture brand, is closing its stores in Russia and pausing all sourcing in the country and ally Belarus, joining the wave of Western firms curbing business with Russia ...
IKEA, the world's biggest furniture brand, shut down its stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia. IKEA to liquidate Russian ...
Ikea, Volkswagen, and Spotify announce they are shutting down operations in Russia while France and Germany seize two Russian mega-yachts. Yahoo Finance's Akiko Fujita breaks down today's world news.
IKEA closed their 17 stores in Russia and halted sourcing materials from Russia and Belarus, but its 14 malls in Russia, branded "Mega", remain open. IKEA's decision to close their stores led to Russian consumers panic buying furniture and home appliances on the final day of the store's operations in the country. 3 March 2022 (Furniture stores)
In March 2022, IKEA announced the closing of all 17 stores in Russia, resulting from the 2022 Russian invasion of Ukraine. Because of the ongoing war and unimproved situation in Russia, IKEA said on 15 June that it would sell factories, close offices and reduce its workforce. [ 40 ]
The IKEA stores in Russia were in connection with MEGA malls developed by IKEA. 5-6 new openings were originally planned by 2020. On 3 March 2022, INGKA holdings (parent company of IKEA Russia) announced that IKEA would suspend operations in Russia and pause sourcing in the country as a result of the Russian invasion of Ukraine. [138]
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all operations in Russia [96] 2022: IKEA: Retail chain Sweden: Suspended all its stores in Russia and halted its sourcing in Russia and Belarus. [97] 2022: Inditex: Retail Spain: Permanently suspended its activity in the 502 stores (of which 86 are Zara) and on the country's online channel