Ikea packs up furniture sales in Russia
Swedish furniture giant Ikea has called a temporary halt on sales of its kitchen furniture and appliances in Russia as it couldn't cope with the extra demand brought on by the fall in the Russian rouble.
Shoppers in Russia have been snapping up cut-price deals as the value of the country's currency has made consumer goods cheaper. In the wake of the crisis Ikea had been flooded with orders, but is now calling a halt on sales on a range of its items.
"IKEA Russia is temporarily stopping sales of kitchen furniture and appliances due to a large number of customer orders. Sales of kitchen furniture and appliances will be resumed starting Saturday, Dec. 20," the company said in a statement.
Several business media outlets have stated that the price of Ikea goods in Russia have sank by as much as 50 percent. For instance the popular 'Billy' bookcase, which isn't on the suspended list, is now retailing for as little as $30 after previously being sold for $62.
Several companies have been savvy to the currency drop and altered their prices as a result.
Ikea's decision follows hot on the heels of the move made by Apple to close its popular online store citing "extreme fluctuations" in relation to the value of the rouble.
The Swedish giant has warned that prices are expected to rise when sales resume in Russia.
"Also, prices on the site are currently being updated, therefore they may differ from prices in stores," the company said in a statement.
The Local/pr
Comments
See Also
Shoppers in Russia have been snapping up cut-price deals as the value of the country's currency has made consumer goods cheaper. In the wake of the crisis Ikea had been flooded with orders, but is now calling a halt on sales on a range of its items.
"IKEA Russia is temporarily stopping sales of kitchen furniture and appliances due to a large number of customer orders. Sales of kitchen furniture and appliances will be resumed starting Saturday, Dec. 20," the company said in a statement.
Several business media outlets have stated that the price of Ikea goods in Russia have sank by as much as 50 percent. For instance the popular 'Billy' bookcase, which isn't on the suspended list, is now retailing for as little as $30 after previously being sold for $62.
Several companies have been savvy to the currency drop and altered their prices as a result.
Ikea's decision follows hot on the heels of the move made by Apple to close its popular online store citing "extreme fluctuations" in relation to the value of the rouble.
The Swedish giant has warned that prices are expected to rise when sales resume in Russia.
"Also, prices on the site are currently being updated, therefore they may differ from prices in stores," the company said in a statement.
The Local/pr
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.