Did IKEA pull out of Russia?
Did IKEA pull out of Russia? IKEA has now let go around 10,000 employees in Russia as it makes its exit from the country. Swedish furniture giant IKEA said it had sold its factory in the Russian city of Novgorod to local firm Invest Plus, more than a year after pausing its activities in Russia over the conflict in Ukraine.
Does IKEA buy wood from Russia?
IKEA says it uses only Forest Stewardship Council (FSC) certified or recycled wood. It banned suppliers from using Russian and Belarusian wood after FSC suspended its certification in the two countries due to the invasion. IKEA stores in Russia have been closed since March, while IKEA owned shopping malls remain open.
What is the new name of IKEA in Russia?
Belarus-based furniture outfit Swed House has started replacing Swedish giant IKEA in Russia. This comes 13 months after the latter closed its 17 stores in the country, in solidarity with hundreds of other companies that have exited Russia due to its invasion of Ukraine.