Wednesday, November 22, 2017

IKEA Russia searches for new solutions to retain customers amid sanctions

IKEA Russia recently said it is prepared to look for alternative solutions that will help keep its grocery stores attractive to customers amid new food regulations.

The international retailer said it is currently looking into the list of agricultural produce, raw materials and foods that can no longer be imported to Russia in order to determine how these economic measures will affect product offerings in the grocery portion of its stores, Ural Business Consulting reports.

According to a recent decree by the Russian government, imports of beef, pork, poultry, fish, fruit, vegetables, cheese and dairy products from the U.S., EU member states, Canada, Australia and Norway are forbidden as of Aug. 7.

"We'll look for some alternative solutions if necessary, which will allow us to keep making appealing offers to our IKEA Restaurant, IKEA Bistro and IKEA Foods customers," the retailer said, according to Ural Business Consulting.

IKEA's Yekaterinburg location is one of 14 stores the Swedish furniture maker operates in Russia. The retailer plans to open five or six more sites in March and invest $2.8 billion in Russian retail centers, manufacturing and logistic chains through 2020, The Moscow Times reports.