Walmart and Wayfair are getting some competition in the retail home furnishings center space from a familiar, powerful brand: IKEA.
The Swedish company announced that it is investing $2.2 billion in its omnichannel growth strategy in the United States, opening eight new stores over the next three years – the largest investment in four decades of doing business in the U.S.
Seeing cuts in consumer spending lately, big-box retailers Walmart and online furniture retailer Wayfair have been cutting jobs and shutting stores, creating an opportunity for IKEA to pick up cheaper retail and warehouse space.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
