The Ingka entity, which represents most of Ikea’s stores and more than 90% of its total revenues, announced that the Swedish company will invest more than 2 billion euros (2.2 billion dollars) in the United States over the next three years. This investment will be the largest in Ikea’s 40 years of presence in the United States. The aim of this investment is to open eight new stores and nine points of sale, which would create 2,000 new jobs. Currently, the brand already has 51 points of sale and 16,600 employees in the United States since it entered the market in 1985. New stores are expected to open in the coming months in San Francisco, California, and Arlington, Virginia.
Tolga Öncü, Ingka’s sales manager, said the United States represents Ikea’s second-largest domestic market after Germany. According to Öncü, there are “endless possibilities” for business in the North American country. Ikea’s investment will be made throughout the country, but it will focus especially on the South.
In Europe, Ikea also continues to grow. In Spain, the company has invested 150 million euros ($164 million) in opening new stores until 2025. However, the group had to close its activities in Russia in 2022 after the invasion of Ukraine, resulting in the closure of 17 stores, the elimination of thousands of jobs, and the suspension of several production plants.