IKEA to Seek New Partners as It Plans to Increase Supplies from Bulgaria

Business | August 21, 2015, Friday // 14:53|  views

Bulgarian Economy Minister Bozhidar Lukarski (R) greets IKEA founder Ingvar Kamprad (L). Photo: Economy Ministry

The world's leading furniture retailer IKEA will seek new partners in Bulgaria as it is planning to increase its supplies from the country.

The Swedish company intends to double its sales globally until 2020, which necessitates the search of new supply opportunities and IKEA views Bulgaria as a long-term partner.

This was assured by the founder of IKEA Ingvar Kamprad at a meeting with Bulgarian Economy Minister Bozhidar Lukarski at the headquarters of the company in Almhult, Sweden on Thursday.

Kamprad noted that throughout the years he has managed to find many reliable suppliers and to make good friends in Bulgaria, the press service of the economy ministry informs.

The founder of IKEA added that Bulgaria held a great potential and now was the right time to build a fruitful partnership, which will ensure growth and benefits for both sides.

Lukarski highlighted that his visit to the headquarters of IKEA was a sign of support on behalf of the whole Bulgarian government.

Increasing the orders from current Bulgarian manufacturers and identifying new suppliers are among the first steps foreseen by the company.

At the beginning of May, Kamprad visited a number of factories in Bulgaria to assess the opportunities for their more active participation in the global supply chains of the company.

During his visit, the founder discussed the manufacturing of concrete products in areas in which Bulgarian companies hold the potential to compete with the other international suppliers of IKEA.

The first samples have already arrived at the headquarters of the company for assessment of their quality.

Some of the firms have already received orders for the manufacture of different segments from the IKEA assortment – textile, wooden and aluminum furniture, mattresses and soft furniture as well as glass products.

The company was still looking for suitable Bulgarian suppliers of sanitary faience for bathrooms and kitchens and porcelain products.

At the meeting, Lukarski expressed readiness for the Small and Medium Enterprises Promotion Agency to provide the necessary information and to help in establishing contact with Bulgarian factories.

The creation of a logistical centre and its own production plant were discussed as part of the long-term plans of IKEA in Bulgaria.

Lukarski pointed to the fiscal and economic stability of Bulgaria, the recently registered economic growth of 2 % and the favourable tax policy as factors attracting investments to the country.

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Tags: Bulgaria, IKEA, Sweden, bozhidar lukarski, ingvar kamprad, furniture, production, manufacture, economy, investment


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