IKEA

IKEA is a well-established retailer specializing in affordable, ready-to-assemble furniture and home goods, recognized worldwide for its distinctive blue-and-yellow stores and accessible Scandinavian design. The company was founded in 1943 by Ingvar Kamprad in Sweden, originally operating as a mail-order business before opening its first furniture store in Älmhult in 1958. This early shift to physical retail set the stage for IKEA’s rapid expansion across Europe and, eventually, the globe.

As of April 2025, IKEA operates 483 stores across 63 countries, with Germany and the United States representing its largest markets by store count. The company is owned by Inter IKEA Group and managed from its headquarters in the Netherlands, while most stores are run by franchisees under the Ingka Group. IKEA employs approximately 231,000 people worldwide and reported annual revenue of €45.1 billion in 2024.

Over the past five years, IKEA has broadened its reach by entering new markets and adapting its retail formats. Recent milestones include the opening of the world’s largest IKEA in Manila in 2021 and the company’s first stores in Chile and Colombia between 2022 and 2023. In addition to its signature large-format stores, IKEA has introduced smaller city-center concepts and urban planning studios, reflecting a shift toward serving customers in densely populated metropolitan areas. The brand is also investing in digital integration to enhance the customer experience and expand its accessibility.

IKEA’s continued growth and willingness to adapt its formats make it a significant anchor for a variety of retail environments. Its established reputation, global scale, and flexible approach to store development have positioned the company as a reliable and dynamic tenant, especially as it seeks new locations in priority markets such as the United States, Germany, India, the Philippines, Chile, and Colombia.