Ikea Korea launching second store
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Ikea Korea’s second store will be in Goyang, opening on October 19.
“We had heard from customers that they wanted us to come closer to them, and that sometimes our store is too crowded,” says Ikea Korea retail manager Andre Schmidtgall.
He says the store is in the finishing stages of construction and is hiring 550 employees. Ikea hopes to have six stores in Korea by 2020.
Schmidtgall says Ikea’s Gwangmyeong store ( pictured), south of Seoul, is the largest in the world. In its latest fiscal year, Ikea Korea earned revenue of 365 billion won (US$323 million), representing a 6 per cent rise, with 6.49 million visitors to the store.
There were also 38.8 million visitors to the Ikea website and mobile app, says Schmidtgall.
Slightly smaller than the existing branch, the Goyang store will offer a similar range of products but with a different layout. It is in a shopping and entertainment hot spot in the previously underserved northern suburb of Seoul. Starfield Goyang, a shopping and entertainment complex owned by Shinsegae, opened last week following a Lotte mall.
Ahead of the opening of the Goyang branch, Ikea is showcasing its new range of products for the coming year, focusing on the living room, at Bread Comma Cafe in Hongdae through to September 17.
Questions & Answers
Q.What is the primary reason given for Ikea Korea opening a second store?
What is the primary reason given for Ikea Korea opening a second store?
Ikea Korea decided to open a second store because customers had expressed a wish for more accessible locations. They also mentioned that the existing store sometimes experienced overcrowding, indicating a need for additional capacity.
Q.How many employees is the new Goyang store expected to hire?
How many employees is the new Goyang store expected to hire?
The new Ikea store in Goyang is currently in its finishing stages of construction and is in the process of hiring 550 employees. This staffing will support its operations upon opening.
Q.Where is Ikea's largest store globally located?
Where is Ikea's largest store globally located?
Ikea's largest store in the world is currently the Gwangmyeong store, which is situated south of Seoul. This branch is also the subject of the accompanying picture in the article.
Q.What was the revenue for Ikea Korea in its latest fiscal year?
What was the revenue for Ikea Korea in its latest fiscal year?
In its most recent fiscal year, Ikea Korea generated a revenue of 365 billion won, which is equivalent to US$323 million. This figure represented a 6 per cent increase from the previous period.
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