Swedish company IKEA plans to penetrate the Philippine market, an official of the retail industry said recently.
Christian Rojkjaer, managing director of Ikano Retail Asia, the franchisee of the retailer in the region, says the market is ready for Ikea. He has met with the Department of Trade and Industry (DTI) for an investment briefing last Wednesday, February 20.
"What I see is a population with families that like their homes. That's what we're selling," he said. He believes the country offers a big market for the brand and welcomes competition.
"I think we will make a lot of the suppliers here even better by competing with us," he added.
The first three stores are planned for Manila, and potential locations outside the city are also under evaluation.
Ikea has already 338 stores worldwide at the end of 2012. In Asia, it now operates in seven countries: China, Hong Kong, Japan, Malaysia, Singapore, Taiwan and Thailand.