Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Russian malls target UK retailers

John Lewis is among several UK retailers understood to be in talks with Ikea to open shops in Russia, as part of the furniture giant's plan to expand its Mega Mall shopping centre concept.

Ikea will open three more Mega Mall shopping centres in Russia this year, and is targeting UK retailers that want to break into the emerging market.

Ikea founder Ingvar Kamprad has invested US$5 billion (£2.5bn) to create new shopping centres in Moscow and other cities in Russia and the Ukraine.

Stephan Andersson, the director and vice president of strategic development and leasing at Mega Mall and Ikea, said he wanted to take advantage of the growing appetite for UK and European brands in the region. "Britishness is liked in Russia," he said. "Moscow is like London, Copenhagen or Chicago in terms of its desire for fashion."

Referring to the influx of UK retailers into China, he said: "China may have a massive population, but most of them don't have any money. About 30% of Russia's population has money to spend on fashion."

Andersson added that one shopping centre will open in Moscow and two more in other cities by the end of the year. By the end of 2008, Ikea plans to have 15 shopping centres.

Ikea has developed eight Russian shopping centres in the past four years. In terms of size they are typically about 2 million sq ft with up to 250 shops, more than a third of which is fashion.


- Marks & Spencer

- Bhs

- Topman

- Paul Smith

- Accessorize

- Monsoon

- Mothercare

- Clarks.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.