Swedish furniture company Ikea has announced plans to spend $2.2 billion as part of a major expansion in the US over the next three years.
The retailer plans to open eight new large stores and nine smaller stores. It is Ikea's largest investment in the US in four decades, and the largest investment it has made in any single country.
Ikea said the expansion would create more than 2,000 jobs in the US.
The US is Ikea's second-largest market in the world, with 14 per cent of the store's sale shares, only second to Germany, data from Statista showed.
“The US is one of our most important markets, and we see endless opportunities to grow there and get closer to the many Americans with affordable products and services,” said Tolga Oncu, head of Ikea retail at Ingka Group.
“More than ever before, we want to increase the density of our presence in the US, ramp up our fulfilment capacities and make our offer even more relevant to local customers’ needs and dreams.”
The location of the eight large stores have not yet been announced.
The nine smaller stores will constitute “plan and order points”, where customers can book appointments for advice and order furniture.
Ikea currently has 50 stores in the US.
-
Inside the Ikea store at Al Wahda Mall, Abu Dhabi. Victor Besa / The National -
The store opened to the public in November 2020. Victor Besa / The National -
The biggest Ikea store in Abu Dhabi is located on Yas Island. Ravindranath K / The National -
At 35,500 square metres, the Ikea store at Festival Plaza, Jebel Ali is the biggest in the UAE. Chris Whiteoak / The National -
The Swedish furniture store opened in November 2019. Chris Whiteoak / The National -
The Swedish chain is popular for its flat-pack and ready-to-build furniture. Chris Whiteoak / The National -
Ikea sells furniture, appliances and household essentials. Chris Whiteoak / The National -
There is also an Ikea store at Dubai Festival City mall. Paulo Vecina / The National
