IKEA is ready to expand into South America with outlets planned in three countries including Peru. To ensure the success of this expansion Ikea will partner with the Chilean retailer Falabella.
IKEA has announced it will open a regional warehouse in Santiago in 2020 and expand into Lima and Bogotá.
In a press release, Torbjörn Lööf, CEO of the Inter IKEA Group said “We are of course very excited to bring IKEA to South America together with Falabella, who is a strong 2018 local partner with a lot of experience in developing and successfully operating retail businesses.
They also have a well-developed distribution network in the region, which will give us the speed we need to be more accessible to the many. Together we’ll work to make IKEA a loved and meaningful brand for the people in Chile, Colombia and Peru,”
IKEA has around 1.2 billion customers which the company expects to increase to 3.2 million customers by 2025.