Investing
IKEA lookalike ‘Swed House’ opens in Moscow to mixed reactions
© Reuters. People leave a store of Belarusian retail chain Swed House on its opening day in Moscow, Russia April 15, 2023. REUTERS/Alexander Reshetnikov
2/2
MOSCOW (Reuters) – Belarusian furniture company Swed House, which sells items intended to look like those made by Swedish giant IKEA, opened its first store in Moscow on Saturday to a mixed initial reaction from consumers.
IKEA halted all retail and production operations in Russia soon after Moscow started its “special military operation” against Ukraine, along with scores of other Western companies.
“We are not IKEA – we aim to be like IKEA, we have our own brands, our own goods. Yes, we have IKEA items as well,” said Swed House general director Mamedali Kasymov.
“We sell them — 15% to 20% of our range are original IKEA products. Nobody prohibited us from doing this … our own Swed House goods are in big demand as well,” he said, referring to the packed store.
Customers inside the store, who declined to give their surnames, offered differing views.
“We have been missing IKEA a lot lately. This new store is, let’s say, a pleasant beginning,” said Natalia.
Others said the premises were too small.
“Goods must not be just lying on top of each other. IKEA had a certain approach to product placement … you could lie on beds, test the furniture,” said Iohann. “If these guys want to improve, the road ahead is still very long.”
Swed House initially aims to open five stores in Moscow malls before moving into other Russian regions next year, Kasymov said. IKEA briefly resumed online sales last summer and part of the company still operates 14 MEGA-branded shopping malls in Russia.
Read the full article here
-
Side Hustles5 days ago
5 Things That Could Significantly Impact Your Company in 2025
-
Investing5 days ago
NFI Group surge after board reshaped with new appointments, chairperson By Investing.com
-
Side Hustles6 days ago
How Failing 22 Times Paved the Way to My Success
-
Passive Income4 days ago
3 Challenges Entrepreneurs Will Face in 2025
-
Investing6 days ago
Apple Siri Settlement: Who Is Eligible for a Cash Payout
-
Side Hustles4 days ago
The Canadian Media Lawsuit That Could Reshape Tech’s Future
-
Investing6 days ago
Chinese hack of US telecoms compromised more firms than previously known, WSJ says By Reuters
-
Passive Income6 days ago
The AI Tool Your Competitors Don’t Want You to Know About