by Daria Mosolova
01.01.2024, 10:00
6 Min.
Hundreds of international companies have left Russia since the attack on Ukraine. Local imitators are now replacing Ikea, Zara, Starbucks and Co.
When Swed House launched in winter 2021, the “Scandinavian-style” homewares brand was one of many local companies operating in the shadow of furniture giant Ikea. “Our original idea was to open a small store of home decoration items,” says Belarusian entrepreneur Murat Shagylydzhov. But when Vladimir Putin’s sweeping invasion of Ukraine last year caused hundreds of international companies to withdraw from the Russian market, he saw a unique business opportunity. “Our business expanded,” he says.
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2024-01-01 09:02:58
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