Ikea is planning a Latin America foray

In late May 2018, the Swedish furniture retailer Ikea said it would open its first South American stores by 2020 in Chile, Colombia and Peru via a franchising agreement with Falabella, Chile’s 2nd biggest retailer by sales after Cencosud. In 2016, Falabella posted sales of US$10.3 billion via its home improvement business across 6 countries. For Brazil, Ikea will wait for positive results in the region before opening stores in South America’s biggest economy, where high import duties