IKEA has decided to set up a new store in Dalian, Liaoning Province. The new store is scheduled to open in 2008.
According to the Foreign Trade and Economic Cooperation Bureau of Xigang District in Dalian, IKEA has completed the registration for the Dalian store which has a registered capital of US$15.5 million. The total investment on this store will reach US$40 million.
A representative from Dalian IKEA says that IKEA Dalian store's specific date of opening has not been fixed yet.
Founded by Ingvar Kamprad in Sweden in 1943, IKEA has now grown into the biggest household commodity retailer in the world with over 200 stores in 42 countries and regions. It mainly deals in household commodities, decorations and furnishings. IKEA now has three stores in China, which lie in Beijing, Shanghai and Guangzhou, respectively.