Manila, Apr 7— IKEA will reportedly open its first store in the Philippines in 2020 that will be located at one of the country’s biggest shopping malls.
The Swedish furniture company has chosen Manila as the location of its first store in the Southeast Asian country, it has been confirmed.
It will be built in SM’s Mall of Asia (MOA) complex, home to one of the world’s largest shopping destinations operated by SM Prime Holdings, and scheduled to open in 2020.
“What happens in Malaysia and the Philippines is that we go in and… we must create the best shopping destinations in that country either alone or with somebody else,” Rojkjaer told Inside Retail magazine.
“Of course, not everybody in the Philippines can afford us today, but we will work on that and adapt our range and become better and better to become something for many more people,” he added.
IKEA will be the latest addition to the SM Group’s growing international brands that already include Forever21, Crate & Barrel, Uniqlo, Ace Hardware, Alfamart and Watsons, among others.
The global giant’s foray into the Philippines is expected to create jobs and pose a challenge to local businesses, even as demand for furniture products in the country is projected to rise over the next few years. Ikea has already started hiring for its operation in the Philippines.
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