Smaller-format store to open in late 2021
A new Ikea is coming to downtown Toronto.
Ingka Centres has purchased the Aura Retail Podium at 382 Yonge St., at Gerrard St., where Ikea Canada will open a smaller-format store in late 2021.
The location will offer home furnishings with a focus on small-space living solutions and more than 2,000 products, the company said Thursday in a release.
“Ikea Canada is committed to becoming more accessible by bringing our stores closer to where Canadians live, work and socialize,” said Michael Ward, CEO at Ikea Canada.
“As one of the fastest-growing cities in North America with a vibrant and diverse community, Toronto was a natural choice for us to launch our first downtown store.
The downtown store will occupy 66,175 square feet of the ground and second floor.
“The acquisition of the Aura Retail Podium marks our entry into the Canadian market,” said Cindy Andersen, managing director of Ingka Centres, which along with Ikea Canada is part of Ingka Group.
“Downtown Toronto is a super connected and dynamic place where people live, work, study, and come to meet and have fun. It is in line with our strategic vision to invest in urban locations and to be closer to our customers.”
The location will be Ikea Canada’s fifth store in the GTA.