IKEA, the Swedish furniture retail company, has decided to return to Ukraine, according to reports from Forbes Ukraine and Ekonomichna Pravda, citing their sources. The decision, made in May, was influenced by the successful reopenings of other international brands such as H&M and Inditex in the country, as per Forbes.
Forbes Ukraine cited four sources, including two shopping center top managers and two commercial real estate consultants, who confirmed IKEA’s plans to reenter the Ukrainian market. One source, speaking on condition of anonymity, stated that “the return and success of H&M was an important signal for the head office of IKEA, and they also closely followed the recovery of Inditex.”
The Ingka Group, part of the IKEA group, told Forbes Ukraine that their “main priority for the resumption of store operations in Kyiv is the safety of our employees and customers.” However, the Blockbuster Mall, where IKEA’s first store in Ukraine was located, declined to comment due to a non-disclosure agreement.
Currently, technical preparatory work is underway for IKEA’s return, as reported by Ekonomichna Pravda. However, the exact date for the reopening remains unknown.
IKEA’s history in Ukraine includes the launch of online sales in 2020 and the opening of its first physical store on the second floor of the Blockbuster Mall in Kyiv in 2021. The company suspended its operations in Ukraine following Russia’s full-scale invasion in 2022.
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- French companies continue doing business as usual in Russia (2022)
- IKEA eyeing production and retail presence in Ukraine (2017)
