Ikea claims one fifth of the market in Bucharest and outlying areas

Ikea is counting on €110 mln in turnover in the fiscal year which began in September 2008, a 10 percent rise from its first year of activity in Romania. “We expect sales to soar by an annual 20 percent in December, and by 18-25 percent compared to a regular month,” Oprisan said. He added that September 2008 was the best month in the company’s local history, with sales worth €11 mln.

The company is also considering a new store, or expanding the current one by reducing its warehouse. “A decision will be made in 16-18 weeks,” Oprisan added. The Baneasa store has a sales potential of €120-125 mln, which could increase to €140-150 mln by expansion. According to the company’s General Manager, the expansion could make room for an additional 7,000 weekly visitors, which is a seven percent increase in traffic.

Ikea is interested in opening new stores in Bucharest, Constanta, Iasi, Galati, Cluj-Napoca, and Timisoara. The company announced a 10-25 percent price cut for 500 of its total 8,000 products.