IKEA to adjust China strategy with store closures and compact formats

IKEA is restructuring its retail footprint in China, planning to close seven large-format stores while accelerating the rollout of smaller outlets in key urban markets, as the company adjusts its strategy toward more targeted growth. The Swedish furniture retailer said it has shut down seven physical locations from February 2, 2026, including stores in Shanghai (Baoshan), Guangzhou (Panyu), Tianjin (Zhongbei), Nantong, Xuzhou, Ningbo, and Harbin. The closures affect stores in both tier-one and lower-tier cities. At the same time, IKEA confirmed it will open more than 10 small-format stores over the next two years ...