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From Home Furnishing Business
Ikea Plans 50 New Smaller Format Stores Globally
October 8,
2020 by Jane Chero in Business Strategy, Industry 
After a slight dip in annual revenue Ikea plans to open 50 new smaller format stores around the world. The Swedish furniture giant says many of these new locations will be smaller or based in the heart of cities as they aim to move away from their traditional warehouse format.
According to Ikea, the expansion is part of parent company Ingka's "global ambition to evaluate opportunities within 40 major cities across Europe, Russia, North America, Asia, and Oceania" in order "to introduce their vibrant, urban destinations" to the company's portfolio, a spokesperson said. In the US, new store locations will open in cities including New York, Los Angeles, and Chicago.
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