World’s largest Ikea store opens in Philippines

The Swedish ready-to-take furnishings large has made its first appearance in Manila, Philippines by opening its largest store in the world, with a new 730,000-square-foot facility that features a 2-story, 270,000-square-foot store, dining space, and showroom, as well as warehouses, an e-commerce centre, and a call centre.
The opening ceremony of Ikea Pasay City was held at the store’s restaurant yesterday, and the Philippine Trade Secret ary Ramon Lopez and Foreign Minister Teodoro Locsin attended.
The opening coincides with Ikea’s enlargement of its e-commerce business, which got here in useful in the course of the pandemic, with on-line orders presently accounting for 26% of complete sales. The firm, which already has over 460 physical shops in round 60 cities, including Bangkok, plans to open nearly 60 more websites this fiscal 12 months, starting with their first outlets in South America, in Santiago, Chile.
According to store supervisor Platzer, the Philippines had “been the right place on our map for the longest period”.
“Coming to the Philippines was at all times a plan. It’s a good time to be a home furnishing retailer as a outcome of the economy, middle class, and household environment are all rising. I imagine it’s the right time.”

It was supposed to open in 2020, but it was pushed back owing to Covid-19 measurements and a scarcity of development supplies. Now of a technique to expand in Asia, with the brand’s second outlet recently opening in India.
Despite the pandemic-related logistics bottlenecks and uncooked material worth hikes, Ikea expects a harder 12 months in 2022. Despite a provide scarcity and difficulties keeping shops and warehouses stocked, the company achieved document revenues final yr.
SOURCE: The Straits Times

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