JIANGSU PROVINCE, CHINA -- IKEA Group expanded operations in China with the opening of its first furniture making plant through its subsidiary IKEA Industry Group, according to the People’s Daily Online. This manufacturing expansion plus the growth in IKEA retail stores in the country reflects the growing Chinese demand for furniture with the rise of its middle class population.
Located in the eastern Chinese province, Jiangsu, the facility is in the heart of economic development in the region. The location also boasts an array of transportation outlets, which fits within IKEA’s new CEO Peter Agnefjall’s plans to accelerate the opening of new retail outlets with expectations that China will be one of its largest markets. Three stores opened in the last fiscal year, ended Aug. 31, 2013, and Agnefjall recently told Reuters “this year…another three stores will open in China.” IKEA also plans to open a shopping center, anchored with an IKEA retail outlet, in Beijing in 2014.
IKEA USA Hurricane Sandy Relief
Participating in the continuing Hurricane Sandy recovery efforts, IKEA USA will donate over $100,000 of IKEA furnishings to devastated child care centers that Save the Children is helping to restore. UPS will donate its delivery services to get the products to all the centers.
IKEA Group, founded in 1943, is one of the world’s largest furniture retailers and currently has more than 340 IKEA stores in 42 countries, including 38 in the U.S.