IKEA to Grow Online Business

Furniture retailer IKEA (Delft, Netherlands) has announced plans to grow its online business over the next five years. The company operates stores in 42 countries, but only has online commerce offerings in 13 markets worldwide.

CNBC reports that the company’s current e-commerce business is around $1 billion euros, but is expected to grow to $5 or $6 billion euros with the coming expansion.

Though specific plans on the expansion have not yet been announced, the company has stated that it will be focusing on expanding online offerings and working through logistics changes involved in serving a larger market.