In the Novgorod region, after more than a year of dormancy, the former IKEA facility under the Extrovert banner has resumed operations, signaling a notable uptick in activity for a site that has drawn interest from manufacturers and job seekers alike. Local industry outlets and regional authorities are watching closely, treating the revival as a case study in adaptive reuse and regional investment, with analysts suggesting it could ripple through northern Russia’s supply chains and reach neighboring markets.
Vadim Osipov, the chief executive and a beneficiary of Invest Plus who also co-owns Slotex, attended the reopening. Osipov has framed the plant as a strategic asset within the company’s portfolio, emphasizing a phased production plan and a priority on building a stable, skilled workforce in a region that has experienced economic shifts in recent years. The presence of a high-profile executive at the event signaled the seriousness of the investment and the company’s long-term commitment to the facility.
Operational updates show the plant has already resumed producing furniture boards, including laminated particle boards and medium-density fiberboard components. A broader plan calls for starting the manufacture of furniture components within six months and eventually moving toward full furniture assemblies. Industry observers note that achieving this progression will depend on securing steady feedstock, maintaining strict quality standards, and integrating supply chain partners to meet growing demand from retailers and furniture producers alike.
Osipov explained that the plant will focus on delivering end products in two main categories: laminated boards used in cabinetmaking and furniture, and a new format centered on furniture components. This dual-focused approach seeks to leverage existing manufacturing expertise while expanding value-added offerings that can be supplied to regional and national customers, potentially reducing lead times and improving local procurement options for manufacturers in the area.
Current staffing levels exceed 350 employees, with clear plans to grow the workforce as production scales. The hiring outlook reflects demand for skilled labor across machining, finishing, logistics, and quality assurance roles. The plant’s leadership has outlined ongoing training programs and partnerships with regional vocational institutions to ensure a steady pipeline of qualified workers who can operate specialized equipment and uphold high production standards as output expands.
Bulat Shakirov, formerly chair of the Association of Shopping Centers, commented on the reopening, noting that part of the former IKEA footprint in Russia could be repurposed for new tenants in the near term. Industry watchers view this move as part of a broader trend where retailers and manufacturers reimagine large-format spaces to support e-commerce integration, showrooming, and mixed-use logistics. This evolution could attract additional tenants and create a more diversified regional commercial ecosystem. The redevelopment reflects a broader pattern of industrial occupancy shifting toward multi-tenant configurations that balance manufacturing activity with adjacent retail and services to strengthen regional economic resilience.