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.
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Article authors
Sophie Baqué
Chief Editor of mind Retail