IKEA, the Swedish-based furniture and interior decorations retailer, has posted business worth 40 million euros within its first six months on the Romanian market, 75% higher than initially estimated. Just six months after it opened its Bucharest store, IKEA has managed to meet its overall annual sales target. "By August next year, I estimate we will derive 80 million euros' worth of sales. In August we will release our new IKEA catalogue, with business estimates being directly related to this launch," said Cornel Oprisan, retail manager of IKEA. According to Oprisan, the store is profitable from an operational point of view. In the first six months, both the furniture and the interior decorations segment registered equal sales. Taking into account the value estimated by IKEA for its first year on the Romanian market, the retailer's market share could reach 4%, given that the furniture market is worth around 1 billion euros a year (excluding interior decoration products). In its first six months, IKEA saw over 1.4 million visitors and sold over 4.6 million products. In September, prompted by the new IKEA catalogue and a 12% cut in the price of displayed products the number of visitors went up 40% against the average level registered in the previous months. IKEA sells around 7,500 products, but next year plans to increase this number to 8,000.
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