Overview
- Ikea said the seven locations will cease operations on February 2, 2026, following a review that redirects its strategy from scale expansion to targeted in‑depth cultivation.
- The closures cover Shanghai Baoshan, Guangzhou Panyu, Tianjin Zhongbei, and stores in Nantong, Xuzhou, Ningbo and Harbin, according to the company’s WeChat announcement.
- Growth will concentrate in Beijing and Shenzhen with plans for more than 10 small‑format stores over the next two years, including openings in Dongguan in February and Beijing’s Tongzhou district in April.
- The company emphasized continued service through remaining stores and digital channels, including its website, apps, a WeChat mini‑program, and flagship stores on Tmall and JD.com.
- Analysts link the retrenchment to China’s weak property market and subdued consumer spending; Ikea operates about 40 stores in the country, which accounts for roughly 3.5% of its global sales.