Sunday, June 16, 2024

IKEA to open third store in Mexico this year

Global furniture retailer IKEA is set to open its third location in Mexico, following the success of its two existing stores in Mexico City and Puebla. The new store will be in Guadalajara and is expected to open this year. 

“Our expansion plans are very ambitious,” Sales Manager Ricardo Pinheiro said in a press conference. “We arrived in the country three and a half years ago and … 2024 will see the opening of a new store in Guadalajara.”

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New IKEA stores will share space with French sports retailer Decathlon as part of a dual marketing campaign. (Photo: Archive)

IKEA’s venture in Mexico started with an online store in October 2020, paving the way for its first physical store in Oceania, Mexico City in 2021 and a second one in Puebla in 2022. 

According to the company, the new premises will require an investment of some US $100 million. At 23,500 square meters, the Guadalajara store will surpass the size of the Oceania store, which is currently the company’s largest in Mexico.  

In an interview with the newspaper Milenio, the director of IKEA Mexico Jaap Doornbos said they will partner with furniture manufacturers in Jalisco — the country’s largest furniture producer — as the brand seeks to increase their local production.  

“Our spirit is one of cooperation. We recognize that Jalisco has the most knowledge of the furniture and home decor market in the country. Therefore, we are highly motivated to increase [our] production of IKEA furniture in Mexico,” Doornbos said.  

Moreover, he explained that the Guadalajara store will improve the customer experience because it will have enough stock for customers to take home their selected furniture the same day.

IKEA’s expansion plans don’t stop in Guadalajara, Doornbos also said. The company’s goal is to have a presence across the country. However, “Mexico is a big country,” therefore, they will first focus on expanding the reach of their online store.

“We are now present [online] in 15 states, but by this summer, we want to expand to all of Mexico,” Doornbos said. 

As part of their expansion strategy, IKEA signed a partnership with French sports retail store Decathlon to reach new customers. Both companies will have shared space in their stores for customers to learn about and buy new products.

Miguel Ángel Sánchez, CEO of Decathlon in Mexico, said that this is the first time the two companies have partnered in this way, and if successful, he hopes to replicate this model in other countries.

With reports from Milenio and El Financiero

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