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Ikea company unveils rapid China expansion

TT/Christine Demsteader · 28 Nov 2009, 12:00

Published: 28 Nov 2009 12:00 GMT+01:00

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The company unveiled projects including a sprawling shopping destination in Beijing, which will house 450 brands alongside the main attraction of the city’s second Ikea store, set to open in 2014.

A further development will be located in Wuxi in the eastern Jiangsu province and a company statement confirmed further investment in China is likely to surface in the future.

China is the group's first investment destination outside its home of Europe where it has interest in 13 countries.

Since its flagship China store opened in Shanghai in 2003, Ikea has added a further six stores across the country.

The Chinese market accounted for about two percent of Ikea’s global total in 2008.

“Although well-known in China, Ikea's pace of expansion has been relatively slow in the country,” said an IICG company statement.

“Now when Inter Ikea Centre Group moves into the Chinese market, both are expected to see accelerated development in China.”

Story continues below…

IICG was founded in 2001 and is based in Copenhagen, Denmark.

TT/Christine Demsteader (news@thelocal.se)

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Your comments about this article

15:37 November 28, 2009 by Nemesis
IKEA is setting a very good example to European companies, trying to break into the Chinese market place.

This is very good news. IKEA should be congratulated for its sucess.

It is good to see IKEA make inroads into the Chinese market place.

I hope IKEA's future expansion plans in China are sucessful and rewarding.
23:52 November 28, 2009 by karex
Courageous move. I wouldn't have had the guts to do it.

I see China as one among several of the "Catch 22" markets, where you have to sell your soul to the devil to gain access.

Problem is, sooner or later it tends to turn around and bite you in the fanny...
13:09 November 29, 2009 by livinginsweden

Of course ... you wont have the guts to do it ..... Really sell your soul to the devil ? ... and ... bite you in the fanny?

.... you mean like GM and Ford F*** Saab, Volvo and Sweden in the arzzzz
09:43 November 30, 2009 by bjinger
to #2

Your words are unkind, which country are you from.

You should thank God for the people and market that allowing your country to pay your social welfare.
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