Can you guess where IKEA will be opening its first store in PH?
Leading Swedish home furnishings retailer IKEA has reportedly chosen the Mall of Asia complex as the site for its first store in the Philippines.
In his Money Go Round column in The Philippine Star, Vic Agustin said IKEA has forged an agreement with the SM Group for the long-term lease of a property between the SMX convention center and the SMX arena.
Agustin said the second store would rise beside SM Fairview.
Founded in Sweden in 1943, IKEA has been the world’s largest furniture retailer since at least 2008. It aims to generate €50 billion (US$62 billion) in annual revenues by 2020.
IKEA has stores in Hong Kong, Malaysia, Singapore and Thailand.