"I am very happy for IKEA Retail Latvia. To be on this journey and together reach out to the many people in Latvia to offer them our well-designed, well-functioning, sustainable home furnishing products at a low price, is an exciting feeling," says Torbjörn Lööf, CEO of Inter IKEA Group.
The decision to enter a new country is made by Inter IKEA Systems. Thorough market studies are carried out and franchisees are carefully evaluated. Today there are 392 IKEA stores in 48 markets, operated by 13 groups of franchisees. The franchise agreement gives the franchisee the right to operate an IKEA store in accordance with franchisor’s systems and methods. IKEA franchisees get access to one of the world’s most well-known trademarks.