Ikea finds success in Thailand
Swedish furniture chain Ikea says its first store in Thailand has been a success and it will add two more within five years.
Ikano, which owns and operates Ikea in Thailand, says the overwhelming response from consumers has seen sales exceed target by 35 per cent since it opened over a year ago.
The Ikea store anchors the Megabangna shopping centre, a long way from downtown Bangkok. But despite the remote location, it recorded a footfall of more than 3 million people in the first 10 months, says store manager Lacia Sherlock.
The two stores planned for Bangkok will be opened in the city’s west and north.
Sherlock says the speed of the stores’ development will depend on land acquisitions, a challenge for the retail giant which requires big footprints for its stores. Land prices are rising in Bangkok.
The additional stores will be opened through partnership with community mall developer SF Development Company, which developed the Megabangna shopping centre.