IKEA says store count nearly doubled to over 640 locations in five years

Its footprint expanded from about 375 sites as smaller formats roll out.

IKEA has expanded its retail footprint to more than 640 locations across 32 countries operated by Ingka Group, up from around 375 mostly out-of-town stores five years earlier, according to a press release..

Ingka Group invested $2.45b (EUR 2.1b) in FY24 to lower prices and invested a further $3.50b (EUR 3b) over the past two fiscal years to open new stores, upgrade existing locations and introduce additional services, the company said.

In FY25, the retailer opened 54 new locations, including IKEA Oxford Street in London, a new store in Seoul and a mixed-use destination in downtown Shanghai. On 4 December, IKEA opened its first store in New Zealand, launched nationwide home delivery and added 29 pick-up points across the country.

IKEA has piloted smaller store formats in the UK, US and Poland in recent months, which open faster and at lower cost than traditional stores and focus on everyday items. The company continues to open new locations, transform existing stores and close selected units, while reallocating investment across physical and digital channels.

IKEA has also opened its first third-party online store on China’s JD.com and partnered with Best Buy in the US to pilot kitchen and storage planning services in selected Best Buy stores, extending distribution through third-party platforms.

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