Ikea and H & M officially enter the Ukrainian market
Famous Swedish brands Ikea and H & M have officially confirmed their release this year to the Ukrainian market. This was announced by Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Ivan Klimpush-Tsintsadze.
“Ukraine is an attractive place for many Swedish companies wishing to expand their business, and we welcome the fact that already this year the well-known Swedish companies IKEA and H & M will enter the Ukrainian market,” Ivanna Klimpush-Tsintsadze said.
In addition, she added that over the past year the trade between Ukraine and Sweden increased by 4.2% compared to 2016 and amounted to $ 510.9 million.
IKEA was founded in 1943 in Sweden by Ingvar Kamprad. The first shopping center was opened in 1958. The structure of IKEA includes the production group Swedwood, which produces wooden furniture and components and has 35 plants in 9 countries.
Earlier it was already reported that IKEA plans to enter the Ukrainian market. The head of the board of the Mandarin Plaza Alexander Chernitsky reported that IKEA could become the tenant of the largest in the country shopping and entertainment center Yuzhny with an area of 450 thousand square meters. m, the construction of which is scheduled for the end of 2017 in the Goloseevsky district of Kiev. Representatives of IKEA noted that they are interested in cooperation with Ukrainian suppliers of wooden furniture and components to it.
Later it became known that IKEA intends to open the first facility in Kiev within 1-2 years. In February, the media reported that IKEA will open a store in Ukraine before the end of 2018.
In late April, the Cabinet announced plans to create an interdepartmental working group to assist the process of IKEA’s exit into the country’s market.
Recall, H & M is already making a second attempt to enter the Ukrainian market. The first Swedish retailer undertook in 2014, having concluded an agreement with SC Respublika, but at the stage of agreeing documents the deal was frozen.
At the end of last year it was reported that H & M became interested in the Ukrainian market.
Later sources of NV Business confirmed the arrival of H & M in Ukraine.
In the fall of 2017, H & M signed a contract to open a store with Lavina Mall TRACECA Vagif Aliyev. In January of this year, H & M began preparations for the opening of a store in Ukraine.