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02/07/08

IKEA enters Kazakhstan


IKEA, the world’s largest home-furnishing retailer, plans to invest $500 million opening its first two shopping malls in Kazakhstan as economic growth fuels increased spending in the central Asian country.

Category: General
Posted by: admin

Ikea managers including Per Kaufmann, General director for Russia and Ukraine, met with Minister of Industry and Trade of Kazakhstan Galym Orazbakov in Astana on this issue. The retailer plans to spend $250 million on a shopping center in Almaty, the nation’s commercial center, and the same amount on a center in Astana.