The Swedish furniture giant may be eyeing an eventual return to a market it quit nearly two years ago
FILE PHOTO: The IKEA store in Ufa, Russia. © Sputnik / Vadim Braydov
Swedish multinational conglomerate IKEA has extended its trademark rights in Russia for ten years, Russian media reported on Wednesday, citing the country’s intellectual property authority.
IKEA’s head office in the Netherlands filed four applications with the Federal Service for Intellectual Property (Rospatent) in August, one of which was approved earlier this month, according to the agency’s records. The other applications are still reportedly being processed.
Following the extension, IKEA holds the exclusive rights in Russia to its brand name written in Latin letters and its yellow and blue logo, as well as the right to provide services and officially sell its goods in the country, until August 1, 2033.
According to media reports, the Swedish furniture giant may have chosen to extend its trademark rights in Russia because it may want to eventually return to the country’s market and is seeking to prevent a misappropriation of its brand.
READ MORE:
Russia demands $140 million from IKEA – media
IKEA, the world’s largest furniture and home accessories retail chain, operated in Russia for more than 20 years and had 26 stores in the country. In 2022, it ceased all activities amid Western sanctions and sold off its factories.
For more stories on economy & finance visit RT’s business section
