China loves IKEA.
The international furniture retailer said growth accelerated in its fiscal year ending 31 August 2015 boosted by sales in China. To IKEA China is the fastest growing market followed by Russia.
IKEA has stated their total sales were increased of 11.2% on the business year 2015.
“Looking ahead, we see many opportunities for us to continue to grow through our stores and by meeting our customers in new exciting ways in our multichannel environment (…) a journey we have only just begun,” IKEA Chief Executive Peter Agnefjall said in a statement.
Peter Agnefjall is seeing an increasing interest in Swedish build-your-own-furnitures from Chinese people, which means more IKEA department stores are under construction.
“The Chinese middleclass continues developing and in pace with its growth an interest for our products rises too. We have more visitors in our department stores now and we have openend 3 new stores in China during the year (2015). We are going to open 3 new stores the next year too,” says the Chief Executive to the Swedish Newspaper Svd Näringsliv.
Sources: www.marketwatch.com www.svd.se