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IKEA announced it is investing $2.2 billion to grow its business in the United States. The investment will be used for its growth strategy over the next three years.
As part of this project, IKEA is aiming to open new stores and add more locations to meet the demand of customers. It will also shore up its fulfillment network to have better delivery options and offer products that people need in various regions across the U.S.
With the expansion, new stores are set to be built in eight locations in the country. CNN Business reported that IKEA has not yet made a decision with regard to the exact locations of the new stores, but it will surely build one on the East and West coasts to boost its presence there.
The Ingka Group, IKEA’s holding company, said this would be the furniture chain’s biggest-ever investment in a single nation. It is expected to create at least 2,000 local jobs. The company is already operating 51 stores in the U.S., and more are opening in San Francisco, California; Virginia; and Arlington, but these are not included in the $2.2 billion investment.
“The U.S. 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,” Ingka Group’s head of IKEA Retail, Tolga Öncü, said in a press release. “More than ever before, we want to increase the density of our presence in the U.S., ramp up our fulfillment capacities and make our offer even more relevant to local customers’ needs and dreams.”
Javier Quiñones, IKEA US’ chief executive officer and chief sustainability officer, added, “We know U.S. customers have a strong desire for more ways to shop and experience IKEA, and this growth plan will allow us to meet that need and we are committed to continuing to grow in this market with our thousands of co-workers and millions of customers who look to IKEA for home furnishing inspiration and solutions at an affordable price."
Photo by: Jueun Song/Unsplash
