Ikea looks to expand in India and China
Ikea Group, the seller of sofas, bookshelves and cutlery, will consider entering India and open stores faster in China as it boosts sales outside Europe.
The company is watching legislative developments in India to weigh a potential entry, Chief Executive Officer Mikael Ohlsson said in an interview in Shanghai. In China, where Ikea is increasing store openings to three annually from one, sales are expected to rise by at least 20 percent this year, he said. Expanding in Asia would allow the furniture retailer to reduce its reliance on Europe.
