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Companies

Ikea to make its largest investment in China

Swedish furniture maker splashes $1.4bn to strengthen network and digital services

SHANGHAI -- Ikea is strengthening its Chinese operations by investing 10 billion yuan ($1.4 billion) in fiscal 2020, starting from Sept. 1, to meet changing demands in home furnishing. 

The investment, the Swedish furniture maker's largest in China, is part of a three-year strategy to enhance access to its products, boost its online presence and improve its home expertise services. This will involve store upgrades and the opening of small retail outlets closer to customers, as the Chinese market becomes increasingly urbanized and online shopping increasingly prevalent.

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