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Ikea in Russia

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documents in English
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term papers
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7 pages
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  1. Presentation
  2. The company IKEA
  3. Analysis of Russia furniture market
    1. Potential market
    2. Competition
  4. Implementation in Russia
    1. Failures
    2. Predictable difficulties
    3. Corruption
  5. IKEA's future in Russia

Entering Russian market has often been hard for foreign companies; Russia is well-known for being a tough country in business. Some of those companies may make it achieve a certain success, but success does not come easily. In the following report we will see how IKEA entered Russia and the hardships that were encountered on the path.

IKEA is a Swedish home furnishing retailer created in 1943 in Sweden. IKEA is famous for selling home furniture and decoration in kit. The company's philosophy is to improve people every day life by offering a vast range of home furnishing products, which are functional and stylish, at a price accessible for most people. Prices became the key of IKEA's strategy.

This way of doing things enabled IKEA to become the leader in its category with an annual turnover of 23.1 billion euro and to employ 127 000 people in 41 countries. IKEA is well known for being a leading company in internalization.

IKEA's decision to enter Russia was expected since Russians' income and expenditures were likely to grow a little bit more every year due to their gradually general economic development. Moreover, the retail sector in the country is rapidly rising. In 2010, in Russia, according to their website (www.ikea.com), IKEA had set up 12 stores, 13 malls, one distribution center and three manufacture plants.

Tags: IKEA, Russian market, foreign companies

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