IKEA Expands in Manhattan in $2.2 Billion US Push Amid Tariffs

Swedish furniture giant IKEA is expanding in Manhattan, undeterred by mounting Trump tariffs.

Ingka Investments, the investment arm of Ingka Group — the largest IKEA franchisee operating most of the brand’s outlets — has acquired 529 Broadway in SoHo to open the label’s second Manhattan store, building on last year’s purchase of 570 Fifth Avenue as part of a $2.2 billion US push.

“This marks Ingka Investments’ fourth acquisition of prime commercial real estate to support IKEA’s growth in the world’s leading cities,” said Peter van der Poel, managing director of Ingka Investments. IKEA US chief Javier Quiñones called ...