IKEA plans to open store in Johor Baru


KUALA LUMPUR: Swedish furniture giant IKEA plans to open its third Malaysian store in Johor Baru in the next two years.

IKEA Malaysia, Singapore and Thailand managing director Christian Rojkjaer said, however, that the plan was still at a preliminary stage.

“Who knows, we could have the Johor store up and running in two years,” he said after the official opening of IKEA’s Cheras store yesterday.

He said the company had land in Johor and Penang and was always open to the idea of setting up a manufacturing plant in Malaysia.

“It would depend on the volume of products and sales, and whether it would be economical, but we see the trend (increase in volume) here.

“Malaysia has become more competitive and the more volume we have, the higher the possibility of having a factory here since transportation costs would be lower and it would be more sustainable,” he added.

On the impact of the weaker ringgit on its product prices, Rojkjaer said the company believed the local currency would rebound in future.

“Malaysia’s fundamentals are still strong and we do not take the ringgit’s value into consideration (for investment and product prices) even though most of our products are imported.

“But if the currency continues its trend (depreciating), we will see some impact” he added.

The new 42,000 sq m Cheras store on Jalan Cochrane features 56 showrooms and offers 8,500 products. – Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Ikea , store , johor baru ,

   

Next In Business News

Square sails past profit estimates as bitcoin volumes surge
Oil prices fall 1% on worries of pandemic surge in India
COVID-19 vaccine maker shares sink as governments mull patent waiver
Fed says stock market boom, 'ebullient' investors warrant caution
GLOBAL MARKETS-Stocks gain, Dow ends at record high
ESG at heart of Maybank’s plan
Mitsui weighs buyout of US$11bil IHH Healthcare
MIDF Research: Bank Negara likely to keep OPR unchanged this year
US$953mil Singaporean fund ensnared by alleged nickel fraud
Maybank to stop coal financing

Stories You'll Enjoy


Vouchers