Good for Business, Latvia, Real Estate, Retail

“With only days remaining to the opening of the IKEA store in Latvia, we are starting to deliver the Latvian-language IKEA catalogue to residents of Riga and Riga Region today. Starting August 30, everyone is welcome to the largest IKEA store in the Baltics. IKEA’s vision is to improve everyday life for many people, offering them a wide range of functional, well-designed home interior goods for low prices so that they were affordable to as many people as possible,” said Inga Filipova, head of the IKEA store.

IKEA has built its new store at 2 Bikernieku Street in Dreilini, Stopini region. The store’s floor space is 34,500 square meters and its total territory is 10 hectares large. The IKEA store will also house an IKEA restaurant with 450 seats, a bistro and a store selling Swedish groceries.

Total investments made in the IKEA store have exceeded EUR 50 mln.

Paul Mason Properties, whose owner also has IKEA stores in Lithuania and Iceland, is the holder of the IKEA franchise in Latvia.

The Swedish furniture and household goods company IKEA was founded in 1943 by Ingvar Kamprad. Presently IKEA manages more than 400 stores in almost 50 countries across the globe, and around 10 percent of stores are managed by franchise companies.