When Swed House first launched in winter 2021, the “Scandinavian-style” homeware brand of Belarusian entrepreneur Murat Shagylydzhov was one of many local businesses operating in the shadow of furniture giant Ikea.
“Our initial idea was to open a small-scale store selling home decor items,” said Shagylydzhov. But when Vladimir Putin’s full-scale invasion of Ukraine last year prompted hundreds of international businesses to withdraw from the Russian market, he spied a once-in-a-lifetime business opportunity. “Our project expanded,” he said.
Two years down the line, Shagylydzhov’s shops are popping up across both Russia and Belarus, drawing queues of disenfranchised customers with the promise of products almost identical to those of its Swedish predecessor.