The CEO of global furniture behemoth IKEA has told CNBC that store placement is the current focus for the company as it looks for new growth strategies.
"I think the biggest difference now is how we place the stores. A decade ago, or two decades ago, we placed them in highway junctions. Whereas today it’s much more important for us to get to places where there is public transportation," CEO Peter Agnefjall told CNBC ahead of the group’s yearly results announcement.
The retail group – which rose to global prominence in the 1990s – operates 328 stores located in 28 countries and has traditionally been associated with giant superstores in out of town areas.
(Source: CNBC)