The first IKEA store in Latvia is planned to open end of August 2018. Pending approvals, construction of the IKEA store will begin in spring of 2017.The store will be operated by SIA, part of Miklatorg Group, by franchise agreement with Inter IKEA Systems B.V.
"I am very happy for IKEA Retail Latvia. To be on this journey and together reach out to the many people in Latvia to offer them our well-designed, well-functioning, sustainable home furnishing products at a low price, is an exciting feeling", says Torbjörn Lööf, CEO of Inter IKEA Group.
The decision to enter a new country is made by Inter IKEA Systems thorough profound market studies and franchisees are carefully evaluated. Today there are 392 IKEA stores in 48 markets and there are 13 groups of franchisees. The franchise agreement gives the franchisee the right to operate an IKEA store in accordance with franchisor’s systems and methods. IKEA franchisees get access to one of the world’s most well-known trademarks.