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FOURLIS GROUP EXPANDING IKEA IN EASTERN EUROPE

Fourlis Group, the exclusive franchisee of the IKEA trademark in Greece, Cyprus, and Bulgaria, announced plans to develop a network of 15 IKEA stores in the next five years. 

The Group’s plans for the expansion of IKEA include the opening of the first medium-size store in Varna, Bulgaria. 

The 8,000 store will be located within Delta Planet mall, with the opening date set for 2020. 

At the moment, Fourlis Group operates an IKEA department store in Bulgaria’s capital, Sofia, as well as pick-up points in Varna, Plovdiv, and Burgas. The new store in Varna will replace the existing pick-up point in the city. 

A CHAIN OF 15 IKEA STORES 

According to its development plan, Fourlis Group aims to open five medium-size IKEA stores (5,000 – 12,000 sqm) and ten small-size stores (1,000 – 2,000 sqm) in Bulgaria, Greece, and Cyprus, in the next five years. 

The Group currently runs a chain of seven IKEA stores (five in Greece and single stores in Cyprus and Bulgaria), ten pick-up points, and three e-commerce shops. 

In 2018, the annual turnover of the Group’s Retail Home Furnishings sector was 296.7 million EUR, while the total number of visitors in the three IKEA stores amounted to 10.9 million. 

IKEA EXPANDING IN SOUTHEAST EUROPE 

This year IKEA started the construction of its first store in Slovenia, located within BTC City in Ljubljana. 

The 31,000 sqm store will offer around 9,500 furniture products, as well as a children’s playground, restaurant, bistro, Swedish food shop, and parking spaces for more than 170 bicycles and 1,000 cars

In Serbia, the Swedish giant currently operates one department store in Belgrade’s Bubanj Potok area and is preparing to invest 50 million EUR in the development of a new retail park next to its existing store.

ABOUT FOURLIS GROUP 

Fourlis Group is one of the leading groups of companies in Greece and the Balkans specializing in selling high-quality consumer goods. 

Besides operating the IKEA franchises, Fourlis Group is the exclusive franchisee of the INTERSPORT trademark in Greece, Cyprus, Bulgaria, Romania and Turkey, and the exclusive franchisee of The Athlete’s Foot for Greece and Turkey. 

Retail SEE Group
Retail SEE Grouphttp://www.retailsee.com
Retail SEE Group publishes articles about the retail real estate market and distributes it to the international business community subscribed to our newsletter. If you would like us to cover a story about your project, company, or brand please contact us.
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