You have no items in your cart.
The Swedish furniture giant is planning to establish itself in South America and expand in South East Asia, “within the next five years,” according to the CEO Torbjörn Lööf. The expansion is in line with IKEA’s goal of dominating the global furniture market. Dagens Industri reports that Chile, Colombia, Mexico, and Peru are highest on the list of South American countries where IKEA wants to establish itself. In South East Asia, the company is planning to add Vietnam and the Philippines to existing markets that it serves in the region.
In a separate story, the Financial Times reports that IKEA is making major adjustments to its sales strategy to adapt to the threat of online retailers, like Amazon and Alibaba. With some of the world’s best known physical retailer brands, like Toys R Us becoming bankrupt, Torbjörn Lööf, CEO of Inter Ikea, said the decision to turn to online retailers is part of a broader overhaul, where the company is complementing the traditional warehouse, with new types of stores, particularly in city centres. “[This] is the biggest development in how consumers meet Ikea since the concept was founded” he told the Financial Times.