IKEA TO OPEN NEW OUTLET IN XUJIAHUI AREA
AsiaInfo Services, May, 2001
AsiaInfo Services 05-18-2001 IKEA to Open New Outlet in Xujiahui Area SHANGHAI, May 18, 2001 (AsiaPort via COMTEX) -- A Swedish retailer plans to open its largest Asian outlet in Shanghai within two years, but industry officials fear its choice of location may be ill-advised. Last month, IKEA signed a US$60 million deal with the Xuhui District government, according to the Investment & Commerce Center of the district. An industry source said the planned outlet is about a five minute walk from IKEA's Longhua Road W.
store. IKEA's other Chinese mainland outlet is in Beijing. "We chose the location because transportation conditions were better," said Garth Collins, store manager of IKEA Shanghai. Yin Kunhua, a vice director with Shanghai Real Estate...
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