Ikea is expanding on Manhattan in New York. The furniture company is buying a property on Broadway in the Soho area of 4,900 square meters to be able to open its second store on the island.
The investment is part of the investment of 2.2 billion euro that Ingka Group (owner of the Ikea stores) is making in its American operations. It also occurs shortly after President Donald Trump announced new tariffs on imported furniture.
Ikea has more than 50 stores in the US and sales last year amounted to a total of 5.5 billion dollars, nearly 52 billion Swedish kronor.
