Confirmed in a press release and official announcement today, Swedish retailer IKEA has plans to bring their store to Memphis in Fall 2016. This is their first store in either TN, MS, or AR. There are only 40 IKEA stores in the US with the closest location in Atlanta, GA and Frisco, TX. .
“The location of IKEA in Memphis is a significant win for our city,” said Phil Trenary, President & CEO, Greater Memphis Chamber. “Memphis is an authentic place filled with very engaged young professionals who are passionate about growing Memphis and will welcome a company like IKEA with open arms.”
Proposed for a location in the Wolfchase corridor, 15 miles east of downtown Memphis, the 269,000-square-foot possible IKEA store and more than 1,000 parking spaces could be built on 35 acres along the southwestern side of Interstate-40 near Germantown Parkway exit. Potential store plans would reflect the same unique architectural design for which IKEA stores are known worldwide. IKEA also would evaluate potential on-site power generation to complement its current renewable energy presence at nearly 90% of its U.S. locations.
“We are excited at the possibility of growing our southeastern U.S. presence with a potential Memphis store,” said IKEA U.S. CFO Rob Olson. “This proposed location in such a vibrant retail corridor could provide our already 37,000 Memphis-area customers their own store and introduce the unique IKEA shopping experience to other consumers throughout western Tennessee, northeastern Arkansas, Northwestern Mississippi, and beyond.”
The proposed IKEA Memphis would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 300-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features would include a ‘Children’s IKEA’ area in the Showroom, baby care rooms, play areas throughout the store, and preferred parking. In addition to the more than 500 jobs that could be created during the construction phase, approximately 225 coworkers could join the IKEA family as a result of opening the store. The IKEA Memphis store will provide significant annual sales tax revenue for local governments and schools.
“IKEA is the epitome of innovation. Memphis is a cradle of innovation, ” said Memphis Mayor AC Wharton.
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