HOME furnishing giant Ikea has seen sales growth soften for three consecutive years in China as the country grapples with a slowing economy.

Still, the Swedish retailer is pressing ahead with 10 billion yuan (US$1.4 billion) of investment in the next 12 months and opening four more stores in the country by August 2020, Ikea China division president Anna Pawlak-Kuliga said Friday at a media briefing in Beijing.

“We have strong confidence in the China market,” she said. “It’s one of the most dynamic markets with the most potential.”

Despite the trade uncertainties, global brands from Starbucks Corp. to Ferrero Rocher are continuing to expand in China, banking on the long-term potential of the world’s biggest pool of consumers.

Ikea, whose global sales touched 38.8 billion euros (US$43 billion) last year, sees Chinese consumers aspiring to premium consumer goods including home furnishings, said Pawlak-Kuliga.

Ikea will adjust its business operations in China to suit the local context, such as launching sales on local e-commerce platforms and piloting a program on WeChat for consumers to order its beloved meatballs.

It’s also bringing a new concept of mini-Ikea stores to Shanghai next year. (SD-Agencies)