Retail giant Ikea has taken a multi-million-dollar hit in Singapore after having to temporarily close its two stores due to the shutdown, but the Swedish firm is sticking to its growth strategy with plans to open a new outlet next year.. Read more at straitstimes.com.
Retail giant Ikea has taken a multi-million-dollar hit in Singapore after having to temporarily close its two stores due to the shutdown, but the Swedish firm is sticking to its growth strategy with plans to open a new outlet next year.
He also noted that Ikea's own surveys suggest that the brand is more recognised here than it is in almost any other country in the world.Its new 70,000 sq ft store, spreading across three floors of the Jem mall, will open in the second quarter of next year. Mr Hylving said the move allows Ikea to expand into the west of Singapore, while opening an outlet at a lower cost than a large stand-alone store.
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