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IKEA to open shops in Beijing, Shanghai

(Xinhua)
Updated: 2006-04-01 13:32

IKEA, one of world's largest furniture retailers, plans to open new branches in Beijing and Shanghai, according to sources from the Swedish furniture company.

Ding Hui, Vice-Chairman of IKEA China, said on Wednesday that the new Beijing IKEA will be open to the public in April, while the site of the Shanghai one is still in the selection process.

He noted that China has provided wide room for business growth and also has become the largest purchase market for IKEA. About 18 percent of IKEA's purchasing materials are from China, which is expected to reach 24 percent in future.

According to IKEA's plan, the furniture giant will open 10 markets on the Chinese mainland by 2010, with 300,000 square meters of total storage capacity.

IKEA currently has three factories in Beijing, Dalian and Shenzhen, and distribution centers in Shanghai.

Having opened 231 shops in 33 countries and regions, IKEA enjoyed 14.8 billion euros of total global turnover in 2005.