IKEA expands to Panama and Costa Rica

Inter IKEA Systems B.V., the owner of the IKEA Concept and worldwide IKEA franchisor, today announces that it has signed franchise agreements with Sarton Group to grant exclusive rights to explore expansion opportunities in Panama and Costa Rica.

Inter IKEA Systems B.V. grants Sarton Group the franchisee rights for Panama and Costa Rica. Sarton Group currently runs retail operations in the Spanish Islands, Dominican Republic and Puerto Rico. The signed agreements are part of the expansion of the IKEA Brand in the Americas and will add retail operations in Panama and Costa Rica.

"We are happy to further extend our work together with Sarton Group and invite Panama and Costa Rica into the IKEA family. As the owner of the IKEA Concept and worldwide IKEA franchisor, we are continuously seeking opportunities to expand our reach and enhance accessibility for more people. Together with the IKEA franchisees, we improve and develop the IKEA Brand to be more relevant and inspiring. We see this agreement as a further strengthening of our long-term commitment and investment in the Americas, building relationships with customers, suppliers and future co-workers," says Maria Johansson, IKEA Expansion Manager.

"This is an incredibly exciting and significant expansion for Sarton Group. We’re looking forward to further extending our strong and successful partnership with Inter IKEA Systems B.V. by assuming the franchise rights for Panama and Costa Rica. Years of experience operating in markets such as the Dominican Republic and Puerto Rico have provided us with invaluable knowledge regarding the local needs, dreams and wishes of the many people within the Americas region. We are confident that by offering beautiful home furnishing solutions and leveraging our expertise, we will contribute to growing the IKEA Brand in Panama and Costa Rica," says Tony Tavira, Sarton Group Retail Manager.

Today, IKEA operates through a mix of over 480 stores, e-commerce and order pick-up points across 63 markets worldwide, experiencing 899 million store visits and 4.6 billion online visits annually. The operations are managed by 13 IKEA franchisee groups, who are authorised to market and sell the IKEA product range and operate IKEA stores and other sales channels.

More details about the exact time of the store openings in Panama and Costa Rica will follow at a later stage.