Ikea Expands to Estonian, Latvian Markets
The world famous Swedish home products chain store is setting up shop in Lithuania. Latvia and Estonia will be next.
Lithuania is so far the only Baltic nation in which a launch of an Ikea store has been confirmed, Äripäev reported.
The Ikea Group, until recently known for its apathy towards the Baltics, has not directly initiated the expansion. Two Icelandic retail entrepreneurs, Sigurdur and Jon Palmason, who are also behind the store project in Vilnius, expected to materialize by 2013, will reportedly carry out the plan.
The information was also confirmed by Palmasons' spokeswoman Hanna Gustafsson, who said Ikea stores in the other two Baltic nations will be opened once the Lithuanian store has picked up business.