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IKEA announces $2.2 billion plan to open new stores across the U.S.



The investments will become the largest in 40 years of the company's work in the U.S. market.
IKEA - unsplash

Holding Ingka Group, which owns IKEA retail chain, plans to invest more than $2.2 billion to expand its business in the U.S. within three years. The investments will become the largest in 40 years of the company's work in the U.S. market.

As part of a new stage of IKEA development in the American market, the company plans to open eight new retail stores and nine "Plan & Order" order planning stations. The company will create more than 2 thousand new jobs in the country thanks to the new openings.

The investment program in the U.S. is part of IKEA's global growth strategy, within which new full-size furniture centers and city-format stores will also be opened in Great Britain, Spain and other countries.

Experts note that record investments in development in the U.S. will increase the availability of goods while maintaining cost. At the same time, it is noted that IKEA considers the U.S. market one of the most important today.

Representatives of IKEA did not disclose which particular projects in omnichannel trade will be used for the 40-billion investments. This information will be published later.

IKEA's first order-planning studio opened in New York City's Upper East Side in 2019. Several more stores have opened in the past three years. The new planned openings will "complement, not replace," existing flagship stores. It is known that the first Plan & Order location will open before the end of 2023 in Arlington, Virginia. Many others may appear in cities where IKEA is already represented and in localities where the retailer is not yet represented.

According to the second quarter of 2023, the IKEA retail chain includes 51 stores. Despite the plans to actively develop new formats the company continues to place the main bet precisely on the classic large-format furniture centers.

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