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

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

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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.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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