IKEA opens new store in downtown Toronto
The company sees the metropolis as one of the fastest growing cities to invest in.
Ingka Centres, which includes IKEA, has acquired the Aura Retail Podium building, where a small format store will open in late 2021.
This location will feature home furnishings with a focus on solutions for smaller living spaces and over 2,000 related products.
"We are committed to becoming a more accessible company by bringing our stores closer to where Canadians live, work and socialize," said Michael Ward, CEO of Ikea Canada. — As one of North America's fastest-growing cities with a vibrant and diverse community, Toronto was a natural choice for us to open our first downtown store."
The downtown store will occupy 66,175 square feet (20,170 square meters) on the first and second floors of the purchased building.
"The acquisition of Aura Retail Podium marks our entry into the Canadian market," said Cindy Andersen, managing director of Ingka Centers.
Downtown Toronto is a dynamic place where people live, work, study, come to meet and have fun. It's in line with the company's strategic vision to invest in urban areas and be closer to customers.
This will be the fifth Ikea Canada store to open in the Greater Toronto Area.
