Monday, February 1, 2021
Home Business FOURLIS GROUP EXPANDING IKEA IN EASTERN EUROPE

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.
- Advertisment -

Subscribe to our newsletter

To be updated with all the latest news, features and special announcements.

Most Popular

Ananas – the new Amazon or AliExpress in Eastern Europe

Delta Holding is developing the first regional online retail platform called Ananas due to launch in the first half of 2021. The platform will cater to people in the countries of former Yugoslavia, including Albania.

A New Food Court Area in Stadion Shopping Center

Stadion Shopping Center in Belgrade finalized its food court renovations, presenting a completely new and improved 400 sqm space.
00:01:34

Talking Mannequins Presented by Paul Jean Gaultier

Paul Jean Gaultier fashion exhibition at the Museum of Modern Art in Belgrade presented talking mannequins, that responded to the movement of visitors. With the development of facial recognition and AI technology, one must wonder will dolls replace human sales staff in the future?

Mistakes of Retailers which went Bankrupt in 2020!

According to Forbes over 160 retail companies filed for bankruptcy in 2020. It is easy to assume that the pandemic destroyed these companies, but maybe their failure to adapt to changing trends has been the main cause of their troubles. Let us analyze some popular bankrupt retailers to learn from their mistakes.