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Ikea to invest 10 billion yuan in China next year

Swedish furniture giant Ikea said on Thursday that it will invest 10 billion yuan in the China market in the upcoming 2020 fiscal year, which would be the company’s biggest ever one-off annual investment in the country.

The money will be primarily used to improve user experience and business digitization and it will also consider building more sales channels on Chinese digital platforms, said the company.

While the company is glad to see Chinese consumers visiting its physical stores for inspiration, it hopes to improve their experiences by further its expanding e-commerce offerings, said Anna Pawlak-Kuliga, head of Ikea’s China operation.

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