IKEA to close seven stores in China amid demand slump and strategic shift
Flagship IKEA stores in Shanghai, Guangzhou, Tianjin, Nantong, Xuzhou, Ningbo, and Harbin will shut down from February 2 due to a decline in consumer demand and competition from local brands.
Source SCMP
The company stated the closures are part of a strategic realignment, moving away from large-scale expansion toward selective market presence. Over the next two years, IKEA plans to open more than ten smaller stores and strengthen its online sales channels.
Despite closing seven locations, IKEA will continue to operate 34 stores in China, demonstrating its commitment to maintain significant market presence while adapting to changing conditions.
