EU – Baltic States, Latvia, Lithuania, Markets and Companies

IKEA, the renowned Swedish company registered in the Netherlands that designs and sells ready-to-assemble furniture, appliances, and home accessories.

Budlevskis explains that much will depend on the development of the real estate market and bank lending, since these factors have a considerable impact on furniture trade.

Budlevskis believes that there should be sufficient demand for IKEA production in Riga. This segment is very fragmented and scattered across the city. Sometimes, it is necessary to drive from one part of Riga to another to purchase everything needed, which is inconvenient, explains the expert.

The question is whether IKEA needs three stores in the Baltic States. The answer could be known in about one year's time, predicts the expert.

As reported, the first IKEA store in the Baltic countries opened in Vilnius on August 14.

The store, located near the Vilnius Airport, was built in less than a year. The store's total area is approximately 26,000 square meters, and it has a parking lot for 1,000 automobiles.

The store employs 240 people and sells everything for home furnishing, from small interior design objects, tableware and appliances to kitchen cabinets and other furniture.