12:13 - 8.01.2026
January 8, Fineko/abc.az. IKEA will close seven branded stores in China and switch to the format of small retail outlets.
ABC.AZ reports with reference to Bloomberg that starting from February 2, stores in Shanghai, Guangzhou, Tianjin and other cities will be closed. Within two years, the company plans to open about 10 small-format outlets in Beijing and Shenzhen.
The decision relates to the protracted crisis in the Chinese real estate market and increased competition from local online brands. IKEA will keep 34 stores in the country and strengthen online sales.
