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We can’t wait for the year 2020.
Ikea, known for its affordable range of ready-to-assemble Scandinavian-style furniture, could soon be opening in Manila, where it says there is an unserved market of 24 million customers.
Mike King, retail manager for Singapore, Malaysia and Thailand, told Thailand’s The Nation that it is looking for business partners in Vietnam and the Philippines to capitalize on the urbanization in Southeast Asia.
“The two new branches will possibly be erected within five years,” he told the newspaper. In Vietnam’s Ho Chi Minh City, it predicts to have almost 8 million customers.
“King said there was plenty of space for the home-furnishing market in this region. Therefore, Ikea plans to open a new outlet every year from now on,” adds the report.
Apart from furniture, Ikea is also known for its in-store cafeterias that sell cheap Swedish meatballs and hotdogs.
There are currently 373 Ikea stores in 47 countries.