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| 10 October, 2018

IKEA to boost footprint in Oman

IKEA aims to reach a total of 3 billion potential customers by 2025

Image used for illustrative purpose.
Trollies are seen outside an IKEA store in Wembley, north London January 28, 2015.

Image used for illustrative purpose. Trollies are seen outside an IKEA store in Wembley, north London January 28, 2015.

REUTERS/Neil Hall

Mubasher: IKEA on Wednesday has revealed that it looking to expand into Oman.

The step comes along with the company’s plans to foray into new markets in the coming few years, the Swedish-founded multinational group that designs and sells ready-to-assemble furniture, said.

IKEA aims to reach a total of 3 billion potential customers by 2025, according to an official statement.

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Moreover, the Swedish firm will open stores in Chile, Columbia, and Peru through a new Ikea franchisee called Falabella as part of its first foray into South America.

Inter Ikea, which owns the Ikea concept and is the worldwide franchisor, announced that the company has plans to start selling its products in Oman, Mexico, Estonia, Ukraine, Puerto Rico, Luxembourg, Macau, and the Philippines.

“We will offer new and different ways to shop the Ikea product range - online, in remote locations and in city centers. We will introduce smaller store formats and offer a wide range of flexible and affordable services,” Torbjorn Loof, Inter Ikea CEO, said.

It is worth noting that Ikea’s stores can be found in more than 50 markets, and welcomed 957 million visitors in the last fiscal year.

It also has online stores in 35 markets after expanding its operations in Belgium, Romania and Malaysia introduced e-commerce.

Source: Mubasher

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