TodayThursday, July 02, 2026

To expand its business, IKEA is investing about a billion dollars in this country

May 16, 2023

The group will spend 1.2 billion euros ($1.31 billion) over four years, according to a statement released on Sunday, on the eve of the “Choose France” summit, a summit of international investors chaired by the president. French Emmanuel Macron, Monday in Versailles.

According to the company, of this amount, 377 million euros ($410 million) will be used from previously allocated investment funds that have not been fully consumed.

“We are investing in existing sites and in new ones as well, in order to make our offers accessible to as many people as possible”, declared Johan Laurel, head of the Swedish group IKEA in its French subsidiary, while “accelerating” sustainable development. development efforts.

France is our “third market” in the world, said Jesper Brodin, boss of the “Ingka” holding company, which includes most IKEA stores and represents more than 90% of total turnover. there,” he said.

The furniture maker, which employs 12,000 people in France, plans to open a new logistics center in Toulouse in 2024, as well as a similar site in Lemay in the French Yvelines in 2026.

“We don’t have numbers today, but we will be opening new logistics sites and that will likely bring in new colleagues,” Laurel said.

Read the Latest World News Today on The Eastern Herald.

Arab Desk

Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

Leave a Reply

Don't Miss