New IKEA headquarters underscore strategic relevance Spanish market

25.03.2010 By: Transfer based on Invest in Spain

IKEA has inaugurated its new headquarters in Spain in San Sebastián de los Reyes (Madrid), with an investment of 15 million euros, according to a company press release, which underscored how the company was bolstering its commitment to Spain and Portugal as a strategic market through the new headquarters.

Specifically, as part of this expansion plan, the Swedish company will open three new stores on the peninsula this year, in Jerez de la Frontera (Cádiz), Loures (Portugal) and A Coruña. The new Ikea headquarters has 3 floors and parking for employees, with capacity for 300 people. It is located close to the company’s store in this municipality of Madrid.

The investments of IKEA in Spain demonstrate the country´s relevance as an interesting and large market for exporters of modern style furniture and accessories. Spain has a strong domestic furniture industry, but this has faced strong competition recently with more lower priced imports. However, increasingly sophisticated consumers are looking for interesting imported products.

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