IKEA is all set to launch its online stores in Malaysia and Singapore to expand its reach in the regions and capitalise on the opportunities available.
The Swedish home furnishing retail giant will first introduce its online services to Singapore by the end of this month and then to Malaysia in 2018.
IKEA is investing aggressively in the Malaysian market. It has also injected around Malaysian Ringgit 600 million to set up its first retail store (spread over 40,227 square metres) in Penang.
The Penang store is expected to be opened in the initial months of the year 2019. It will be the fourth IKEA store in Malaysia.
The expansion will generate over 450 jobs in the region alongside creating business opportunities for the home furnishing suppliers.
Malaysia has been a key focus market for IKEA as the stores in the country have reported higher sales for the company.
The home furnishing player has already announced its plans to further invest around Malaysian Ringgit 900 million in the construction of its regional distribution and supply chain centres (for the ASEAN countries) in Malaysia.
