MOROCCO – Following the success of the IKEA department store in Casablanca, INGKA Holding, the department store’s parent company, has announced its plans to launch Morocco’s second Ikea store in Tetouan.
Swedish furniture giant has invested MAD 400 million (US$45.4m) into the new department store that will boost the Tangier-Tetouan-Al Hoceima region’s economy.
The new department store will cover an area of 16,100 square meter area, which will consist of a 3,700 square meter showroom, a 3,450 square meter market hall, along with Ikea’s first restaurant with a terrace. It is set to launch in June 2022.
“Since our arrival in Morocco, we have invested nearly 75 million dirhams in lowering the prices of more than 1,300 products,” said Marino Maganto, the CEO of SYH Morocco.
He pointed to the HEMNES bench, KLIPPAN sofa, and KALLAX shelf as examples, which, since 2016, have fallen in price by 25%, 29%, and 44% respectively.
“Since our arrival in Morocco, we have invested nearly 75 million dirhams in lowering the prices of more than 1,300 products.”Marino Maganto – CEO, SYH Morocco
“We remain strongly committed to continuing this dynamic to allow as many people as possible to access our products, and the Tetouan store is a new step in this direction because it will allow us to improve our economy of scale and benefit consumers,” added Maganto.
The choice of Tangier-Tetouan-Hoceima for the department store was spurred by the region’s strong economic and social developments. The new store will create approximately 500 direct jobs and another 1,000 indirect jobs in the region.
As for the employees, they will enjoy permanent contracts with above market wages with full benefits, including medical coverage, pensions, and transport cost coverage.
“When we opened our first store in Zenata, we had already affirmed our commitment to the Kingdom in the long term,” said Maganto.
He concluded, “Today, we continue to deliver on our ambition for Morocco with a new investment which, we are convinced, will bring the IKEA experience to as many people as possible in the region.”