Swedish home supplies giant Ikea formally announced that its second store in Beijing will open at the end of 2013.
The new Ikea store will be one of the main stores of Inter IKEA Shopping Centre and will be based in Beijing's Daxing district.
The new Ikea store will be on the subway's line four. It has a business area of 50,000 square meters, 1,750 parking spaces, and a Swedish-style restaurant which has 834 seats. While preparing for this new outlet, Ikea is upgrading its existing store at Siyuanqiao. They will re-design the customer restaurant on the third floor and increase the number of seats from the existing 660 to 800.
Since its entry into the Chinese market, Ikea has maintained a stable expansion by opening two or three new stores each year. Over the 2013 financial year, Ikea opened two new stores in China, increasing the total number of its Chinese stores to 13. Meanwhile, the company achieved sales of over CNY6.3 billion in this marketplace, representing a year-over-year increase of 17%.