Yandex.Market bought all IKEA products remaining in Russia

Yandex.Market bought out all IKEA products that remained in Russia after the company left the country. The amount of the transaction was not disclosed, but it is known that we are talking about more than 20 million goods in all categories.

Yandex.Market intends to release these products for sale by the end of the year. The company confirmed reports of the deal and said that it "will help Yandex.Market strengthen its position in the online trading market, especially in the DIY & Home category." “Popular products of the Swedish network will be able to attract new customers to the marketplace,” the press service of Yandex.Market said.

IKEA announced its withdrawal from Russia in early summer shortly after the start of the Russian military invasion of Ukraine. On July 5, the store launched the final online sale.

In October it became known that the company fired 10,000 of its Russian employees. In total, about 12 thousand people worked in the IKEA retail network in Russia.

The company also sold all four of its factories in the country. Before the war, the Russian market accounted for about four to five percent of the company's sales.

Source: Interfax

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