Ikea plans to invest US$448mil in France

​Ikea plans to invest 400 million euros (US$448mil) in France over the next three years as it builds up its new city centre stores in the country, Ikea France chief executive Walter Kadnar said

Ikea plans to invest 400 million euros (US$448mil) in France over the next three years as it builds up its new city centre stores in the country, Ikea France chief executive Walter Kadnar said.

Ikea, the world’s biggest furniture retailer, is known for its vast self-service out-of-town stores, but it is transforming its business model to cater more for consumers who would rather order online and have items sent to their doors.

Kadnar unveiled the plans for France as Ikea – which had global sales of around 39 billion euros (US$43.6bil) last year – opened its first store in central Paris, in the Madeleine district which is popular with tourists and near many historic landmarks.

The opening comes as Paris grapples with “yellow vest” anti-government protests, although violence and vandalism related to those demonstrations has waned in recent weeks.

Source: Reuters

 

Posted on : 07 May 2019
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Last Updated : Friday 13th December 2019