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New IKEA store opens in Beijing
(Reuters)
Updated: 2006-04-12 17:23
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A Chinese woman walks past the IKEA store on its opening day in Beijing April 12, 2006. Sweden's IKEA, the world's largest furniture retailer, said it planned to triple the number of stores in China over the next three to four years, as lower prices help fuel an ambitious global expansion plan. IKEA now operates three stores in mainland China. The company has invested about $100 million in its newest store, bringing its global total to just over 230 stores. The Beijing store will be the retailer's second-largest worldwide, smaller only than its flagship store in the Swedish capital of Stockholm. [Reuters]