Ikea will reportedly invest about CNY1 billion in a new project in Chongqing to build the company's largest flagship store in western China.
The new Ikea store in Chongqing will have a total construction area of over 100,000 square meters and it has four floors, including two floors of parking and two floors of retail area, according to local media reports. The parking area has 1,600 parking spaces.
Ren Weiguo, vice president for the retail business of Ikea China, told local media that as the youngest municipality of China, Chongqing has a population of 32 million and it is becoming the economic center of the southwestern areas of China. With the establishment of this new store in Chongqing, Ikea hopes to provide a brand-new home supply shopping environment for local citizens and offer satisfactory products to consumers.
Founded by Ingvar Kamprad in Sweden in 1943, Ikea has developed 337 retail outlets in 40 countries and regions around the world. The company entered the Chinese market in 1998 with its first store launched in Shanghai. It has already opened 11 stores in Chinese cities like Beijing, Guangzhou, Chengdu, and Dalian.