Finance
IKEA opens its farthest store from Sweden in New Zealand
Published by Global Banking and Finance Review
Posted on December 4, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 4, 2025
1 min readLast updated: January 20, 2026
IKEA opens its first New Zealand store in Auckland, marking its farthest expansion from Sweden. The store creates 500 jobs and boosts local competition.
Dec 4 (Reuters) - IKEA opened its first store in New Zealand on Thursday, entering its 64th market and marking the furniture retailer's most distant outpost from its native Sweden.
The long-awaited 34,000 square-metre (365,973 square foot) store at the Sylvia Park shopping centre in Auckland employs 500 people and is IKEA’s 505th store.
IKEA’s New Zealand expansion was announced in 2019 and comes 50 years after opening in neighbouring Australia. IKEA now operates in 64 markets around the world.
IKEA franchisee Ingka Group said the opening, which drew thousands of people, was special given New Zealand’s distance from Sweden.
"It’s a real leap of faith, investment and friendship, showing we’re not just exporting a store, we’re planting roots for the long term, creating jobs, learning from local communities and tailoring our offer for Kiwi homes," Retail Manager Tolga Oncu said in a statement.
New Zealand Prime Minister Christopher Luxon said IKEA's new store created jobs and competition which benefits consumers.
(Reporting by Christine Chen in Sydney; Editing by Stephen Coates)
IKEA is a multinational company known for its ready-to-assemble furniture, kitchen appliances, and home accessories. Founded in Sweden, it operates stores worldwide, focusing on cost-effective and stylish home furnishings.
A franchisee is an individual or company that holds the rights to operate a franchise of a larger company. They pay fees and royalties to the franchisor in exchange for the right to use the brand and business model.
Job creation refers to the process of providing new employment opportunities within an economy. It can result from business expansions, new business startups, or investments in various sectors.
A market is a place or system where buyers and sellers interact to exchange goods, services, or financial instruments. Markets can be physical locations or virtual platforms.
Economic growth is an increase in the production of goods and services in an economy over a specific period. It is often measured by the rise in Gross Domestic Product (GDP).
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