IKEA’s already a massive furniture giant, but it’s not slowing down anytime soon.It has some really big plans for growth, reports Anna Molin at the Wall Street Journal.
Here’s how large IKEA plans to be by 2020, according to the WSJ:
- Increase annual revenue to $58.8-$65.3 billion (from $34.9 billion) — that’s as much as 85 per cent
- Increase store count to 500 (from 300)
- Increase its workforce to 200,000 (from 131,000)
- Increase its visitor traffic to 1.5 billion (from 655 million)
- Quadruple sales of “sustainable” products
What’s it going to cost to do this?
IKEA says that it’ll take $1.9 billion-$3.2 billion in investments annually starting in 2014.
Right now, IKEA’s making a big push to expand in emerging markets, and trying to enter markets that aren’t familiar with its style of design.
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