German Armin Michaely, aged 54, has managed Ikea-Centres Russia since March 2013. After 22 years at the German office, he has restarted mall expansion in Russia, which previously stopped in 2012. Sophie Baqué met an inspiring and confident business leader to hear why it is the right time to enter Russia.
Sophie Baqué: Could you showcase the firm Ikea-Centres Russia?
Armin Michaely: Ikea-Centres Russia is the country’s largest shopping centre owner, with 2.2 million retail sq.m. We have been active for 15 years and we run 14 malls (3 in Moscow, 2 in St Petersburg and 9 in the regions), all with an Ikea store and hypermarket as anchor tenants. We are a of Ikea-Centres, which runs 3.2 million retail sq.m of malls and “retail parks” in 14 countries, including 69% in Russia.
What are the levels of customer visits at your 14 malls?
They attracted 275 million visitors in the fis- cal year to August 2015, an increase of 2%.