Business

Ikea Expands in Sweden

The Swedish furniture company, Ikea, plans to build five new department stores in Sweden at a cost of half a billion dollars, reports Dagens Industry newspaper.

The new outlets will be located in Helsingborg, Västerås, Uddevalla, Borlänge and Älmhult.

Last year, Ikea reported record sales of more than 26 billion dollars, despite the financial crisis and the global economic downturn.

Ikea Sweden’s chief executive, Peter Agnefjäll, told Dagens Industri that the company sees big opportunities to increase sales in Sweden.

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