Ikea is making its biggest annual investment in China, ploughing more than $1.4bn into an expansion drive over the next year after a sharp slowdown in sales growth in the country.
The Swedish retailer plans to open several new stores before the end of this year and renovate existing ones as it bets on Chinese consumer spending growth.
Anna Pawlak-Kuliga, Ikea’s top executive in the country, told the Financial Times the plans would help “accelerate expansion offline and online”.
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