Ikea swindled out of 1.5 billion in Russia
TT/The Local - [email protected]
Published: 20 Jun, 2009 CET.
Updated: Sat 20 Jun 2009 10:30 CET
Ikea has been swindled out of 1.5 billion kronor ($189 million) in Russia, company founder Ingvar Kamprad revealed on Sommar, a show on Sveriges Radio P1.
“We were completely fooled when it came to electricity and gas deliveries. Something that is going to cost us more than 1.5 billion kronor. I know that this will become a legal matter,” he said, according to Sveriges Radios Ekoredaktion.
Ikea currently has eleven stores in Russia.
Kamprad also revealed that during a recent board meeting he had put forth the idea of establishing an Ikea location in Iran, but this was set aside due to opposition by other board members.
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“We were completely fooled when it came to electricity and gas deliveries. Something that is going to cost us more than 1.5 billion kronor. I know that this will become a legal matter,” he said, according to Sveriges Radios Ekoredaktion.
Ikea currently has eleven stores in Russia.
Kamprad also revealed that during a recent board meeting he had put forth the idea of establishing an Ikea location in Iran, but this was set aside due to opposition by other board members.
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