IKEA to invest $2.3bn in Russian plants and outlets by 2020

IKEA

IKEA to invest $2.3bn: Swedish retailer IKEA is looking at the possibility of opening stores in 25 Russian cities with populations of over 500,000, its representative Daniela Rogosich is quoted as having told the Swedish publication Dagens Nyheter.  In an investment programme worth around $2.3bn over the next five years, the company is looking to double sales  from its Russian operations and is also planning to build a new manufacturing facility in Veliky Novgorod close to  the M10 federal highway between  Moscow and St.Petersburg. Interfax