The global retailer Ikea says it is looking to cash in on growing opportunities to be found in China's backward southern parts and is planning to set up a store in the Yunyan district, Guiyang city, Guizhou province.
Plans estimate the cost at 150-200-million yuan ($23-31 million) and an annual turnover worth 400-600-millon yuan.
Ikea says that it has 18 stores already in China and it expects to have 83 by 2030, while analysts say that the company has significantly accelerated its development after opening 11 stores in the 1998 - 2012 period, with them added in the past three years.
