IKEA expects 1.5mn visitors during the first year of operations in Bulgaria.

By bne IntelliNews September 2, 2011
Worlds largest home furnishing retailer IKEA expects 1.5mn visitors during the first year of operations in Bulgaria, investor.bg reported. Greeces Fourlis, holding the franchising rights of Swedens IKEA for Greece, Cyprus and Bulgaria, is to open the first IKEA hypermarket in the country on September 20 in the capital city of Sofia. The company has hired a total of 330 local employees so far. In July, Fourlis said that they target 10% market share in the country in the next one year and a leading position in the longer run. The construction of the store in Bulgaria started in June 2010 year and Fourlis announced plans to invest EUR 50mn in the facility, which will cover 30,000 sqm. Fourlis intends to build up to three stores in the country.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    4 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    4 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    18 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    27 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss