Ikea Enters LatAm Through DR

Swedish home furnishings giant Ikea is investing $65m in the construction of its first store in LatAm, to be located in the Dominican Republic. The building is expected to be completed in December 2009, and once opened will create 400 new jobs, according to the Dominican government. As of 2007, Ikea had 260 stores in 35 countries, according to its website.