BUSINESS

Ikea to Close Seven China Stores to Focus on Biggest Markets

Published: Jan. 7, 2026 5:52 p.m. GMT+8

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An Ikea store in Guangzhou. Photo: VCG

Ikea China said that it will close seven stores across the country next month, marking a significant adjustment to its retail strategy in the world’s second-largest economy.

The closures, effective Feb. 2, will affect stores in Shanghai’s Baoshan district, Guangzhou’s Panyu district, Tianjin’s Zhongbei area, as well as the cities of Nantong, Xuzhou, Ningbo and Harbin, the company said in a statement on Wednesday.

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Ikea China will close seven stores in February 2024, shifting focus to key cities like Beijing and Shenzhen, with over 10 small-format stores planned in the next two years.
The company attributes closures to global economic uncertainty and changing consumer habits, while aiming to enhance online channels and renovate existing stores.
Global 2024 fiscal sales dropped 4% to 45.1 billion euros; online sales made up 28% of total, and overall prices fell by 10% over two years.

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Ikea: Ikea China will close seven stores next month due to global economic uncertainty and changing consumer behavior. This reflects a strategic shift from large-scale expansion to a focus on key cities like Beijing and Shenzhen, where they plan to open over 10 small-format stores. Ikea intends to strengthen its online presence, upgrade existing facilities, and collaborate with Chinese companies for digitization and automation. Globally, Ikea has implemented an omnichannel strategy and price reductions to boost demand.

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