World Franchise Associates - Building Franchise Business Worldwide

« BACK TO NEWS

Ikea (Sweden) to Enter the Philippine Market

13 Apr 2017 - THE Board of Investments (BOI) has preapproved the bid of Ikano Pte. Ltd., the operator and franchise-rights owner of Swedish furniture brand Ikea in key Asian markets, to enter the Philippine market. According to BOI documents, Ikano Pte Ltd. prequalified under the Retail Trade Liberalization Act of 2000 last November.

Before engaging in retail trade business or investing in an existing store in the Philippines, all foreign retailers must have a net worth of either $200 million or $50 million, depending on its classification as a foreign retailer under the Act.

The foreign retailer must also have five operating retail branches or franchises in global locations, unless it owns at least one store worth $25 million, and a five-year track record in retailing.

The net worth, track record, existence of branches of the applicant retailerís parent company, its branches and subsidiaries, as well as its affiliate companies that may have a stake in the applicantís operations will also be considered.

Earlier reports have floated the possibility of the iconic Scandinavian furniture retailer entering the Philippines as early as 2013, but so far, the furniture brand has yet to come in.


BusinessMirror

« BACK TO NEWS

FranSpeak

Subscribe to FranSpeak and receive free, monthly news and features about international franchising.

f

International Franchise News.International Franchise News.

© World Franchise Associates Ltd 2016. All rights reserved. info@worldfranchiseassociates.com
UK Company No. 6203737. 26 York Street, London, W1U 6PZ. +44 (0) 8446 698 980

Disclaimer: World Franchise Associates Ltd. is a privately owned limited liability company specializing in international franchise development and advisory services.
World Franchise Associates is not an NGO or franchise association and is not affiliated in any way with the World Franchise Council.
World Franchise Associates is a member of the International Franchise Association. Member of the IFA International Committee and
Member of the Advisory Council for the Global Restaurant Leadership Conference.