Costco Coming To Iceland

American retail giant Costco is set to build its first wholesale warehouse in Iceland, with a planned opening for this November.

Construction will begin in the coming weeks, reports Plans for building the Costco started in 2014, and finally settled on the town of Garðabæjar for its location last December.

The 14,000 square-meter warehouse will sit alongside the discount grocery store Bonus and the country’s only IKEA outlet, in what will be an anchor for a future neighborhood.

Floorplan for the new Costco in Iceland.

Floorplan for the new Costco in Iceland.

Customers in other countries must buy a yearly Costco membership to shop at the store. In America, that fee is US$55, or about ISK 7,500. In a recent interview, Costco UK president Steve Pappas said the amount in Iceland has not been determined.

Costco UK president Steve Pappas

Costco UK president Steve Pappas

In addition to groceries and a substantial range of local products, Costco will offer a deli, bakery, pharmacy, vision center and automotive center, all exclusively for its members.

Costco will also have 12 self-service petrol stations exclusively for Costco members, open from 6am – 10pm during the week and shorter hours during the weekend. There will be an attendant to help customers.

Costco sells Kirkland Signature gasoline through 400 stations across America, and its declared policy is to offer fuel at prices lower than its competitors.

Once opened, Costco will hire 160 workers, with a planned expansion to 250 employees in three years.


Leave a Reply

Your email address will not be published.