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The pandemic will not prevent IKEA owner from opening new shopping malls



Ingka Centres said the expansion plans remain in place as attendance at its malls recovers quickly after restrictions are lifted.
Ikea store

Today, Ingka Centres, which owns 46 IKEA stores in Europe, Russia, and China, entered the U.S. market in 2021. During the pandemic, attendance at these facilities fell by almost a quarter, resulting in a 16 percent drop in tenant sales to $5.4 billion. These are "good results under the circumstances," the company said.

The company understands that the pandemic is not over and is preparing for new challenges shortly. Nevertheless, the management is optimistic and will not change its plans regarding the opening of new shopping centers and stores.

At the same time, Ingka Centres reduces the emphasis of its work on suburbs and small central areas, adapting to the new model of consumer behavior. The company is now actively looking for suitable properties in about 40 cities. Earlier in 2020, relevant acquisitions were made in London and San Francisco.

According to Managing Director Gerard Groener, "No matter how the so-called 'new norms' look, retail and leisure are adapting, and people are adapting to socialization. Once the restrictions were lifted, visitors began to return to the malls, which was a meeting place for them.

More about shopping malls in Sweden



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The concept store is part of the Livat Hammersmith shopping and entertainment center in London.
May 19, 2022, South Korea:
Hyundai Seoul got a central atrium with a 12-meter waterfall and natural lighting.
May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
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Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
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