SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
IKEA has been investing in Portugal and now the numbers have reached €65 million. The said amount is the total funding that the Swedish furniture retailer has already given out as of August this year.
Tolga Öncü, Ingka Group’s retail operation manager, confirmed that their IKEA subsidiary has already spent €65 million on its business in Portugal. He also announced some good news and revealed the company is planning to invest more and put in another €60 million before the year ends.
Supporting the Brand’s Impressive Growth in Portugal
As per The Portugal News, the head of IKEA in the region said the company’s business growth recorded more than 11%. This percentage is said to be “almost double the world average.”
They noted that the growth simply indicated that the entire home furniture industry in the country has become larger than before. Moreover, in an interview with local media, Öncü said they are investing at a time when IKEA is planning to expand its business further in Portugal by opening more ordering and collection facilities.
“This year was fantastic for IKEA and Portugal,” the Ingka Group, IKEA’s parent company, retail operations manager said. “In Portugal, the team achieved growth of over 11%, which is almost double the world average and there are several reasons why Portugal stands out. Many of the best examples worldwide are being developed in Portugal and then we are copying them throughout the world.”
Future Plans for Expansion
IKEA has a lot of plans to increase its presence and sales even more. One of the schemes is to redesign its Loures store outlet located in Lisbon district, the capital of Portugal. It will also invest in parcel business that will cater nationwide but will not be setting up new fulfillment centers, Portugal Post reported.
“Instead of building a new warehouse in Portugal, we can use one of our large stores and transform it,” Öncü explained. “This is one of our most interesting projects in Portugal for the group.”
Photo by: Jueun Song/Unsplash
