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Bulgaria's first IKEA store should be ready by the end of 2011. Photo by trb.com
Some 1.6 million clients are estimated to visit the first IKEA store in Bulgaria in the first year after its opening, according to the Fourlis Group.
The Greek company Fourlis is IKEA’s franchise holder for Greece, Bulgaria, and Cyprus. It plans to invest EUR 50 M in the construction of the first IKEA store in Bulgaria, which will start with a ground-breaking ceremony on Thursday, June 3, 2010.
The store is expected to be completed by the end of 2011. It will employ about 350 people. The Greek company has also made it clear it would consider the opening of another IKEA store in Varna, and potentially even a third store in Plovdiv-Stara Zagora region in Southern Bulgaria.
The IKEA store in Sofia with a total area of about 30 000 square meters will be located at 216 Beltway road; it will feature a parking lot with 1 200 spaces as well as a restaurant with 600 seats.
We know that when IKEA enters a new market, the home furniture market starts growing. There is increased interest in these products leading to the development of the entire industry. These are our expectations for Bulgaria,” said Vassilis Fourlis, Chair of the Board of Directors of the Fourlis Group in a statement.
An interview of Novinite.com (Sofia News Agency) with Fourlis Group Manager George Alevizos about IKEA’s entering of the Bulgarian market READ HERE
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