Ikea to Invest $330 Million in Five Serbian Stores, NIN Reports

Ikea Group, the world’s largest furniture retailer, will invest 250 million euros ($330 million) in five stores it plans to open in Serbia, NIN newspaper reported, citing the chief executive officer.

Construction of the first store may begin later this year in the capital Belgrade and the rest will be in Serbia’s other main cities, each employing about 400, the report quoted Mikael Ohlsson as saying.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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