IKEA eyes 25 percent market share in Germany
Reuters
January 2, 2014, 2:10 am
People walk alongside an IKEA outlet in Prague, February 25, 2013. REUTERS/Petr Josek
FRANKFURT (Reuters) - IKEA Group , the world's biggest furniture retailer, expects to nearly double its market share in Germany in the next eight to 10 years thanks to new stores and growing online sales, the head of its German business told a newspaper.
"We have a market share of 13 percent in Germany. Twenty-five percent is realistic," Handelsblatt daily quoted Peter Betzel as saying in an excerpt of an article to be published on Thursday.
Betzel, who has headed IKEA's German business since 2011, said he sees potential for 20 to 25 more stores in Germany, in addition to 46 existing ones.
(Reporting by Maria Sheahan; Editing by Catherine Evans)
