Ikea planning to have 17 stores in China
August 29, 2011 Category Retail, Weekly
Ikea Group plans to have 17 stores and triple staff numbers across the country by 2015, according to Gillian Drakeford, Ikea China’s Retail President. After 13 years in China, Ikea now operates nine stores in Beijing, Shanghai, Guangzhou, Chengdu, Shenzhen, Nanjing, Dalian and Shenyang. The retailer has a global network of 324 stores in 38 countries, and the Asian market only contributed 6% to its global revenue. The rapid expansion will make China one of Ikea’s top 10 markets by 2015. During the company’s 2011 fiscal year, which will end on August 31, Ikea China’s business has grown 20% to CNY4.9 billion from a year earlier. “We’ve also seen year-on-year growth of 27% in visitor numbers to more than 32 million during the past fiscal year,” Drakeford said. “We see huge potential in the future, even when China’s real estate sector slows down, as more Chinese people pay attention to lifestyle and always want to improve and change their life at home,” she told China Daily.
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