Ikea invested 65 million euros in Portugal and will invest another 60 million

Written By Manuel Poças

Ikea invested 65 million euros in Portugal this year and is planning on investing another 60 million.

The multinational Swedish company Ikea, which is part of group Ingka, invested 65 million euros in Portugal during the fiscal year that ended in August 2023 and is planning on investing another 60 million during this year’s homologous period.

According to an interview given by the group’s Retail Operation Manager, the 2023 fiscal year was amazing for both the company and the country. Ikea grew by 11% in Portugal alone, a number that is almost twice as big as the company’s global average.

For now, the focus has been on the storage sector. Ikea is planning on transforming the existing stores and investing in automation, in order to allow orders and deliveries throughout the entire country without having to rely on the Spanish warehouses.

Instead of buying more property and building new warehouses, the company’s plan is to develop the larger stores, like the one in Loures, so that it becomes possible to deliver such service without unnecessary costs.

The truth is that many of the company’s best examples, when it comes to operations, are being developed in Portugal, and then copied all over the world.

In the Manager’s words, “there are several reasons why Portugal stands out”. The home furnishing sector is growing. Not just because of Ikea, but a lot because of it. During the last fiscal year, Ikea Portugal, which has 2 thousand and 8 hundred workers, reached 611 million euros in sales.

Hopefully, with the new investment and the current strategy, it will be able to surpass that number.

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