Buoyant Ikea gears up for more store expansion in China

Ikea Group plans to open three new stores in China in its new financial year, which has just started, the head of the Swedish furniture and home accessories group in China said on Thursday.

Angela Zhu, country retail manager of Ikea Retail China, told China Daily in an interview in Shanghai, that the group would also enhance its distribution networks and e-commerce presence in the mainland.

Ikea's store expansion plans comes in the wake of strong results that saw revenue in China, in its full 2017 financial year to August 10, surge 14 percent to more than 13.2 billion yuan ($1.98 billion).