American membership warehouse club chain Costco plans to open an outlet in Iceland in 2016. According to news in 2014 it was believed that the retail giant would open in Iceland this year but now it has emerged that formal agreement regarding space for the outlet was not finalised but will however be signed this Friday.
Costco is buying a 14,000 sq meter (150,695 sq. ft.) retail space in Garðabær town, a suburb of Reykjavík.
While exploring the possibility of opening an outlet in Iceland Costco made inquiries about exceptions from Icelandic regulation regarding importing of fresh meat and selling pharmacy drugs and alcohol in their outlet. No such exceptions were granted.
Besides the store Costco will operate an unmanned gas station outside the Garðabær outlet.
Costco is the world's third largest retail chain, behind Tesco (2) and Walmart.
American membership warehouse club chain Costco plans to open an outlet in Iceland in 2016. According to news in 2014 it was believed that the retail giant would open in Iceland this year but now it has emerged that formal agreement regarding space for the outlet was not finalised but will however be signed this Friday.
Costco is buying a 14,000 sq meter (150,695 sq. ft.) retail space in Garðabær town, a suburb of Reykjavík.
While exploring the possibility of opening an outlet in Iceland Costco made inquiries about exceptions from Icelandic regulation regarding importing of fresh meat and selling pharmacy drugs and alcohol in their outlet. No such exceptions were granted.
Besides the store Costco will operate an unmanned gas station outside the Garðabær outlet.
Costco is the world's third largest retail chain, behind Tesco (2) and Walmart.
