Ikea opens first city-centre store in Hamburg
[HAMBURG] Ikea became the world's biggest home-furnishings retailer by getting shoppers to drive to sprawling hyper-centres on the outskirts of cities from Stockholm to Shanghai. From today, residents in Hamburg can just walk in off the high street.
The Swedish chain opened its first city-centre store in the district of Altona, the most westerly of Hamburg's seven boroughs, in a pilot project targeting a rising number of urbanites who dread the long haul to its traditional outlets with their distinctive blue and yellow design. The store opening, which is costing the company 80 million euros (S$136.5 million), is an experiment for Ikea, breaking new ground in its largest market, said Johannes Ferber, the managing director who's spearheading Ikea's expansion in Germany.
"It's a very expensive experiment for us, but we want to know if the city-store concept works out," he said. "Altona could serve as a model for other big cities such as Berlin."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender
US mortgage rates up for fifth week at 7.22%