SPAIN - IKEA announced an investment of around 150 million euros in the next 3 years in an expansion and transformation plan that will mark the future of the company in Spain and with which it is expected to generate about 750 new direct jobs in the country.

This investment is part of the company's global strategy to open new store formats in the center of cities and get close to more people. 30 cities around the world will host these new points of contact with different proximity formats, with Madrid and Barcelona being two of the chosen cities.

The company's investment plan also includes investment in the improvement of facilities and services and the promotion of existing formats such as IKEA Designs.

In addition, the company is already allocating some of its resources to increase the logistical capacity of the stores to adapt them to a new reality, which requires agility and a greater capillary that ensures delivery in a greater network of collection points, with a positive impact on the environment.

This new roadmap is the result of the Group's commitment to Spain, a market that they value with a strong potential for growth and expansion, and pursues the objectives of being more accessible and affordable to respond to needs that have been accentuated in the COVID context: a lower level of purchasing power, smaller spaces, a high interest in sustainability and digitization and the need to strengthen the online and logistical channel.