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IKEA to conquer the Chinese market

The Swedish furniture chain IKEA is planning to invest USD 800 million in China and build ten new stores during the next six years.

«Even if China for the time being is responsible for less than 1 percent of IKEA’s turn over world wide, the growth potential is much larger than other places,» said Ian Duffy, head of IKEA’s China department, to the paper China Daily. «We expect China to become our market number one within 10 to 15 years.»

IKEA is the world’s largest furniture producers and the chain stated a department in China in 1998. IKEA has currently two stores in China.

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