Ikea Doubles Down on U.S. Expansion with New Store Openings
Feb/24/2025
Ikea is accelerating its U.S. expansion, announcing plans to open eight new locations across the country in 2024 as part of its multibillion-dollar investment in store development and fulfillment improvements. New stores are slated for Pennsylvania, Maryland, Oregon, Arizona, and three locations in California, with openings scheduled for spring and summer. Seven of these stores will feature "Plan & Order points with Pickup", allowing shoppers to retrieve purchases at their convenience. The move builds on Ikea’s $2.2 billion investment announced in 2023 to enhance accessibility and strengthen its market presence. Additionally, its largest franchisor, Ingka Group, has been expanding in key urban areas, including a planned mixed-use commercial space in Manhattan. These investments have fueled a 13.6% market share increase over five years, underscoring the retailer’s success in adapting to evolving consumer demands. CEO Javier Quiñones emphasized that Ikea remains focused on affordability and accessibility, particularly amid economic pressures. As the company approaches its 40th U.S. anniversary in 2025, it aims to bring its signature Scandinavian design and cost-conscious offerings to even more American consumers. The following chart illustrates the 2024 sales share of INGKA Holdings B.V. (IKEA) by region, highlighting its global market distribution.
