IKEA plans long-term investments in Serbia.

By bne IntelliNews March 8, 2011
The development plans of Swedens furniture maker IKEA for Serbia include long term investments in the opening of department stores in Belgrade, Novi Sad, Nis and central Serbia, IKEAs head of real estate and development for SEE Vladislav Lalic said in an interview with Blic. The companys development strategy for Serbia also envisages fostering the development of local furniture producers through direct investments and the establishment of long-term cooperation regarding the production of furniture for department stores across Serbia and Europe, Lalic said. Lalic reiterated that IKEA had selected Serbia for its regional hub in SEE, which includes Croatia, Slovenia, Romania and Serbia. This means that around 15 department stores will be opened in this region in the next 10 years. It will take 12 months to open the first department store once the land plot is purchased and all the required permits are obtained, Lalic added. The executive declined to comment on the location of IKEA's first store in Serbia, saying that once the land plot is purchased, the company will make an official statement. IKEA is currently working with several Serbian furniture producers that manufacture furniture for its stores in Russia and Europe.

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