17 Mar '11, 6pm

Ikea eyes further expansion in China

SHANGHAI : Swedish furniture giant Ikea is looking to expand further into China, its shopping centre development arm said Thursday, beyond three new malls already announced in major Chinese cities. Inter Ikea Centre Group, or IICG, said Ikea would partner with French supermarket Auchan, Chinese appliance retailer Suning and cinema operator Jin Yi Film for the three malls in Beijing, central Wuhan and eastern Wuxi. "Ikea is eyeing first and second tier cities for more stores and we are looking for suitable cities and locations along with them," Ding Hui, managing director of IICG China, told a news conference. "Shanghai is certainly one of our targets," he said. Ikea has said it plans to more than double its number of stores in China from the current eight by 2015. IICG, based in Denmark, currently owns and operates 30 shopping centres in 14 countries, mostly in Europe, and...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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