Ikea tar­gets South Amer­ica

Irish Independent - Business Week - - FRONT PAGE -

Ikea plans to ex­pand to about a dozen new mar­kets in the com­ing years, in­clud­ing branch­ing into South Amer­ica, as it aims to reach a to­tal of three bil­lion po­ten­tial cus­tomers by 2025.

The the Swedish fur­ni­ture gi­ant will in the fu­ture open stores in Chile, Colom­bia and Peru through a new Ikea fran­chisee called Fal­a­bella as part of its first foray into South Amer­ica, In­ter Ikea said.

The new ex­pan­sion plans were laid out as In­ter Ikea, which owns the Ikea con­cept and is the world­wide fran­chisor, re­ported a 4.5pc in­crease in re­tail sales in the 12 months through Au­gust, at the fran­chisees that op­er­ate its more than 400 stores across the world.

To­tal re­tail sales rose to €38.8bn, from €38.3bn a year ear­lier.

Bloomberg

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