Daily Management Review

IKEA to invest $ 1.41 bln in China


The company announced this at a briefing in Beijing, at which it outlined its strategy for the next three years, reports Yicai Global.

Yeyen Rosseau via flickr
Yeyen Rosseau via flickr
This is the largest annual investment in China in the history of IKEA, the Beijing Daily notes.

The local IKEA division will also recruit over 3,000 new employees in the new fiscal year.

The company is still evaluating and positioning additional projects, and the size of investments will increase even more in the next two years, the company promised.

The Chinese home furnishings market is currently in a period of steady growth, said IKEA China President Anna Pawlak-Kuliga.

Urbanization is gaining momentum in the country, its digital development is proceeding rapidly, and disposable income per capita is growing. All this has changed the way of life and consumption of people, she noted. The company is full of confidence in the Chinese market, President of IKEA China added.

China is the only market outside Sweden with a complete IKEA supply chain.

source: bjd.com.cn