Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Ikea swindled out of 1.5 billion in Russia

Share this article

10:30 CEST+02:00
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.

Get notified about breaking news on The Local

Share this article

Become a Member or sign-in to leave a comment.
Advertisement

From our sponsors

This international school in Stockholm is tailoring education to the teenage brain

Parents of adolescent children will agree that teenagers are hardwired differently. It's why a one-size-fits-all curriculum does anything but ‘fit all'. It's the concept behind Fieldwork Education's International Middle Years Curriculum (IMYC), a curriculum designed specifically to suit the developing adolescent brain.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement