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Industry News

IKEA to open first South American stores in 2020

May 18, 2018

IKEA will team up with Chilean department-store retailer Falabella to open the Scandinavia-based furniture chain's first stores in South America.

IKEA says it plans to open at least nine stores and e-commerce operations in Chile, Colombia and Peru within the next 10 years. The chain intends to boost its global customer base to 3.2 billion in 2025, from about 1.2 billion today — both in stores and online.

Inter IKEA Group CEO Torbjörn Lööf tells Reuters that South America is one of IKEA’s future important growth markets. The first store is to open in Santiago, Chile, at the end of 2020, says Lööf, and the stores planned for Lima, Peru; and for Bogotá, Colombia, will follow.

By Brannon Boswell

Executive Editor, Commerce + Communities Today