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.

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