The Swedish “Ikea” seeks to spend $ 2.2 billion to expand in America over the next three years, which is its largest investment in one country, in a bet to win America, in which some major retailers are closing stores.
Sweden’s IKEA, which opened its first store in America in 1985, aims to win market share in the world’s largest economy.
“In all states across America we see opportunities, but I would say especially in the South, where we see huge demand that we have not yet been able to respond to,” said Tolga Onko, head of IKEA’s retail division, according to Al-Eqtisadiah newspaper. Saudi Arabia.
The company said that it plans to open 8 new large IKEA stores, and 9 smaller stores, in addition to upgrading existing stores in America, which is the second largest market for IKEA in terms of sales after Germany, and indicated that the specific locations for the stores have not yet been determined, including Plan and order points, which are smaller stores, enable customers to get advice and order furniture for delivery, in addition to already-planned IKEA openings in central San Francisco and Virginia.
As consumers spend less, big-box retailer Wal-Mart and online furniture retailer Wi-Fi are cutting jobs and closing stores, creating an opportunity for IKEA to buy cheaper store and storage space.
Ingka said IKEA’s expansion will create 2,000 jobs. “There are sites available that weren’t available before, and there are opportunities for us to accelerate investments in acquiring land and existing sites to bring IKEA closer to many people,” he said.
