USA: Ikea wants to take advantage of falling valuations and acquire more malls

While e-commerce has plateaued at around 25% of sales for the past 2 years, Ingka Group (total sales €47.6 billion in 2023, up by 6.6%) is stepping up property investments. Last week, Cindy Andersen, Managing Director of Inter Ikea, said the company was actively looking for sites in North America. “We are looking for malls with strong tenants but with development potential”. The group aims to establish an Ikea store in each benchmark mall, integrating co-working spaces, Scandinavian food...