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.

Stay up to date
Subscribe To Portugal.com's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.
Join our FB group Portugal Travel & Living for all things Portugal and news updates

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Follow Us

573FansLike
8,319FollowersFollow
159FollowersFollow

Most Popular

Proposed Changes to Portuguese Immigration Law – Here Is Everything You Need to Know

Portugal is on the brink of some of the most significant overhauls to its immigration and nationality laws in decades. Though no legislation has...

Italy Slams the Door on Citizenship Dreams for Many Americans. Why Not Try Portugal Instead?

Millions of Americans with Italian heritage are reeling from a devastating blow to their European citizenship dreams. Italy's recent law change has effectively cut...

Lisbon Metro Strike Begins and Could Extend to 60 Days

Say it ain't so! Commuters in Portugal's capital are set to face significant transportation challenges starting Friday, May 23rd, as Metropolitano de Lisboa workers...

Latest Articles