Swedish low-cost furniture giant Ikea plans to boost its presence in the Italian market with the investment of up to EUR 1.5 bn in new projects over the next four years. In an interview with Italian financial newspaper Il Sole 24 Ore, Ikea's Italian CEO Roberto Monti said that the company plans to double its centres in the country to 30-40 in 2013, from 15 at present.
Swedish low-cost furniture giant Ikea plans to boost its presence in the Italian market with the investment of up to EUR 1.5 bn in new projects over the next four years. In an interview with Italian financial newspaper Il Sole 24 Ore, Ikea's Italian CEO Roberto Monti said that the company plans to double its centres in the country to 30-40 in 2013, from 15 at present.
Monti noted, however, that the ability to execute and the timing of their strategy will depend largely on whether approval is received from public officials. The average investment involved in the opening of one Ikea store ranges from EUR 55 to 120 mln, he added.
The Swedish furniture producer has a number of new openings lined up in Italy. In October Ikea will open a 33,000 m2 store in Gorizia, representing an investment of EUR 60 mln, while in January a centre will open its doors in Salerno and another one in Milan next spring. Recently, Ikea also realised a 4,000 m2 expansion of its store in Florence, involving an investment of EUR 25 mln.
