Boosted by the tax benefits of the Inflation Reduction Act from August 2022, Ikea is investing €2 billion over 3 years to turn the U.S.A. into the largest market by sales. However, on an annual basis, this budget is less than that planned for China this year.
On 20th April, Ingka Holding BV announced an investment of €2 billion over 3 years in the U.S., i.e., €665 million per year. The expansion plan mixes small planning studios and regular Ikea stores. By 2026, Ikea will add 9 design studios dedicated to home furnishing advice plus 8 standard Ikea stores, primarily in southern U.S. cities. Similar to the last 12 months, this investment will also modernise current stores, improve execution of e-commerce deliveries from stores and develop local...
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