1. News
May 10, 2022

Ingka Group to invest $3.16bn in store network by end of 2023

The company will open a store in Nice, France, on 11 May.

IKEA’s largest retailer, Ingka Group, has revealed plans to invest more than €3bn ($3.16bn) to expand its store network by the end of next year.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
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  • Assess and showcase the growth potential for various Industries in the target economy
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The company will open downtown locations in cities and upgrade its existing locations to fulfil online deliveries.

Ingka Group will open its first city stores in Stockholm, Sweden, and Toronto, Canada, over the coming months.

These stores will house more than 2,000 products and offer immediate takeaway and larger furniture items for home delivery.

Ingka Group will open one store in Nice, France, on 11 May.

In Canada, the company will add a distribution centre in Quebec and a planning studio in Montreal.

In addition, Ingka is investing nearly €1.2bn in London, UK, to open a new store in Oxford Street, as well as a distribution centre in Dartford to enable home delivery service within 24 hours across London.

The company is planning to open a pick-up point and a third city store in Madrid, Spain, where it has three traditional stores and two city stores.

At the same time, Ingka Group will continue investing in countries such as Germany and Spain, where it has established operations.

Ingka Group retail operation manager Tolga Öncü said: “More than ever before, we want to optimise our network of stores in order to cater for an inspiring shopping experience – no matter how or where our customers choose to engage with us.

“With this investment, we aim to secure the long-term viability of our business by making IKEA more accessible, more affordable and more sustainable.”

Over the last three years, Ingka Group invested more than €2.1bn in existing and new stores across the 32 markets in which it operates.

Last November, IKEA revealed plans to open a $449.8m shopping centre in Gurgaon in Haryana, India.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.