September 12, 2017 / 9:51 AM / 8 days ago

IKEA to invest 90 million euros in first store in Slovenia

FILE PHOTO - The logo of IKEA is seen above a store in Voesendorf, Austria, April 24, 2017. REUTERS/Heinz-Peter Bader

LJUBLJANA (Reuters) - Swedish furniture retailer IKEA IKEA.UL plans to invest about 90 million euros (£81.19 million) in building its first store in Slovenia, which is due to start in the near future, IKEA said in a statement on Tuesday.

The store will employ about 300 people, said Vladislav Lalic, IKEA’s director for real estate and development in Southeast Europe.

He said IKEA already chose nine construction firms that will build the new store in the capital Ljubljana. According to media reports, the store is expected to open in 2019.

IKEA, which is one of the largest global furniture retailers, operates stores in neighbouring Italy, Austria, Hungary and Croatia.

Reporting by Marja Novak, editing by Louise Heavens

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