First Ikea store in Paris kicks off 400 million euro investment in France

IKEA plans to invest 400 million euros ($448 million) in France over the next three years as it builds up its new city centre stores in the country, IKEA France's chief executive Walter Kadnar.

The opening of the Madeleine store, which is 5,400 square meters (58,000 square feet) in size.

France is IKEA's third largest market, after Germany and the United States.

IKEA employs around 10,000 people in France, where its sales rose 3 percent in the 2017/18 fiscal year to 2.83 billion euros. The Madeleine branch hired 140 new workers, an IKEA media representative said.