Supersized furniture store Ikea is gearing up for a U.S. expansion that is so big that it has the potential to rival big name retailers Walmart and Target.
Inside the New Stores
Ikea is preparing to open eight large stores with its first opening San Francisco, California. The new superstores are reminiscent of a mall, featuring multiple pop-ups, food options and meeting spaces.
“We are confident that we will meet the needs of San Franciscans with Ikea San Francisco and Market Street more broadly — reaching more customers and making IKEA more accessible,” a spokesperson said.
The company also plans to open nine smaller stores where you can get help with placing orders and receive interior design advice on furnishing kitchens, bedrooms, and living rooms from Ikea specialists.
Ikea Preparing for a Major Comeback
In March 2022, Inter IKEA Group announced its plans to pause operations in Russia following its ongoing war with Ukraine. As a result, the mega giant closed 17 stores and ceased operations in a number of its production sites. This resulted in an unfortunate loss in profit and employee layoffs.
Currently, the company is preparing to expand in both Europe and America. It also is expanding in America by opening 17 brand new stores in multiple cities across the country.
This is a huge deal for the company as its largest investment in the United States in over forty years. Tolga Oncu, head of Ikea Retail at the Ingka Group, shared the move would provide a lot of opportunities for the country. It will create more than 2,000 jobs.
“It’s the biggest investment we have ever done in one single country,” Oncu said.
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