Ikea heading to Philippines

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Philippine furniture retailer Blims Fine Furniture is eyeing a partnership with Sweden’s Ikea.

Blims said it has submitted its intent to represent the foreign company, which is planning an expansion to the Philippines.

President Samie Lim said the company wants to establish a joint venture or a franchise deal with Ikea.

Known for its ‘affordable’ furniture, Ikea would cater to mid-market consumers, says Lim.

Blims has been in the industry for more than 30 years and is operating 25 stores.

Ikea, with 338 stores globally, is also expanding to Indonesia with first store to open in 2014 through partnership with Hero Supermarket.

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