IKEA's shopping centers business hopes to open the doors of its first mall in the United States, in the center of San Francisco, within a year, pushing ahead with its expansion plans while many retailers are reeling from the coronavirus crisis.
STOCKHOLM - IKEA’s shopping centers business hopes to open the doors of its first mall in the United States, in the center of San Francisco, within a year, pushing ahead with its expansion plans while many retailers are reeling from the coronavirus crisis.
General manager Gerard Groener said on Monday the COVID-19 pandemic had not changed Ingka Centres’ expansion plans: “Modern physical retail needs to be built around local community needs, a complementary mix of uses, digitalization and sustainability.” Its total investment in the mall, which like its others will be anchored by an IKEA store, will be $260 million including both the acquisition and redevelopment, said Ingka Centres, which has 45 shopping centers in Europe, Russia and China.
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