IKEA invests hundreds of millions of euros in France in an idea that has failed in Prague
Furniture giant IKEA intends to invest approximately €400 million in French cities over the next three years, planning to open stores in the cities’ centres. The first store of the new network is to be opened in Paris, head of IKEA France Walter Kadnar said. The Swedish company has opened similar stores earlier. One of them was located in Prague's Wenceslas Square. However, the IKEA Point concept ended in late August. Unlike the above-mentioned concept where customers could only design the interior, IKEA is now investing in full-fledged stores selling direct furniture. IKEA’s plans identify the need to respond to changes in retail trade, which is characterized by rapid growth of online sales. France is the third most important market for the company after Germany and the United States. France's revenues increased by 3 percent to €2.83 billion last year. The company’s world-wide sales reached some €39 billion.
- E15.cz -