Ikea builds its China business into top 10 spot

Sweden's Inter Ikea Systems BV, the world's largest retailer for home furnishings, said China became one of its top 10 markets by revenue for the first time in the current fiscal year, which ends on Aug 31.

"China will be Ikea's No 10 market in the year ending on Aug 31, when we officially announce our financial figures," said Zhu Changlai, Ikea's retail manager for China.

"In the coming years, Ikea will maintain the expansion speed of opening at least three stores a year, as we did in the past several years, so that we will see China become one of our top five markets before 2020, for sure," she said.