Weather Forecast

Regional News

Ikea expanding impressively in China

Friday, 23 September 2011
Furniture giant Ikea will greatly increase its pace of expansion in China and open about three more stores per year over the next few years in the country.
CEO, Mikael Ohlsson said in an interview with news agency Bloomberg on Friday about the development.
“The demand is there,” says Ohlsson.

Today there are nine IKEA stores in China. Ohlsson also said that Ikea's turnover for the fiscal year, which ended on 31 August, rose 6.9 percent to about €25 billion, more than Skr230 billion.

Already Ikea’s concept is being copied by Chinese apparently filling the gap of demand which Ikea cannot provide. But now Ikea wants to step up and see if it can under cuts those ‘Chinese pirates’.
By Scancomark.se Team

Front Page | Market News |Companies News | Competitiveness | Regional

About Us | Contact Us | Terms and Conditions |Copyright Policy | Privacy Policy |About Cookies

Scandinavian Companies & Market Magazine 2010, Granscole Establishment Sweden AB. Registered in Sweden as a Media Company Organisation Number: 556782-6572

Back to top