Today IKEA Retail Latvia announced it is submitting plans to the City of Riga and Stopiņi Municipality, which would make it possible to meet the many people in the Baltics with a second IKEA store. Pending approvals, construction of the IKEA store will begin in spring of 2017, with an opening at the end of August 2018. Until then, customers can shop at the closest IKEA store in Vilnius, Lithuania. Paul Mason Properties Ltd. will operate the store under a franchise agreement with Inter IKEA Systems BV.
"We are very pleased to open the first IKEA store in Latvia. Opening an IKEA store in a new country is not only a long-term commitment, it is also the responsibility to contribute in development of our brand vision – to create a better everyday life for the many people,” said Sigurdur Palmason, Chairman of Paul Mason Properties Ltd. “We have been observing the Latvian market for over a decade, and we are very pleased to finally be able to bring IKEA to Latvia.”
Located approximately 8 km east of downtown Riga, the proposed standard-format IKEA store and the over 1,000 parking spaces would be built on a land plot at the intersection of Juglas Street and Biķernieku Street, with easy access from all parts of Riga and the region. The store plans reflect the same unique architectural design for which IKEA stores are known worldwide. The size of the IKEA store will be 34,500 m2 on a 10-hectare land plot, and the total investment will be close to EUR 60 million. It is envisaged that further retail investments on the site could total over EUR 100 million.
The IKEA store will feature nearly 9,000 exclusively designed items, 55 inspirational room-settings, three model home interiors, a supervised children’s play area and a 450-seat restaurant serving Swedish specialties such as meatballs with lingonberries, salmon plates, as well as local dishes. Other family-friendly features include a ‘Children’s IKEA’ area in the Showroom, baby care rooms, play areas throughout the store and preferred family parking. In addition to up to 300 jobs that are expected during the construction phase, approximately 400 co-workers would join the IKEA family after the new store opens.
Since the founding in Sweden in 1943, IKEA has offered home furnishings of good design and function at affordable prices. There are currently 392 IKEA stores in 48 countries. IKEA has been ranked among the best retail employers in Lithuania for the last three years.
IKEA is committed to sustainability and it is reflected in our values. We are guided by a vision of “creating a better everyday life for the many people” and a better everyday life means a more sustainable life. Using resources carefully and treating people with respect are part of our roots. IKEA supports worldwide initiatives that benefit children and the environment. For more information see www.IKEA.com.