IKEA

[jedicurt]

Hate to burst anyone's bubble; however this source was published October 4, 2018.

IKEA calls report they are coming to OKC area 'purely speculation' : http://www.oudaily.com/news/ikea-cal...dd13877e5.html

Does anyone have any updates on IDEA considering OKC?

well of course it is purely speculation... they aren't going to comment on anything until they are ready to make a move publicly.

[Pete]

^

This is standard non-denial denial. Of course it's speculation and of course they have not announced an OKC location yet.

I can 100% assure you that they are actively negotiating for an OKC location, which is exactly what was reported.


This kind of thing has been published by competitors regarding Trader Joe's, H&M, Costco, Amazon and virtually every other story we've scooped them on.

[jedicurt]

^

This is standard non-denial denial. Of course it's speculation and of course they have not announced an OKC location yet.

I can 100% assure you that they are actively negotiating for an OKC location, which is exactly what was reported.


This kind of thing has been published by competitors regarding Trader Joe's, H&M, Costco, Amazon and virtually every other story we've scooped them on.

atleast OU daily gives credit! better than can be said for others

[Laramie]

^

This is standard non-denial denial. Of course it's speculation and of course they have not announced an OKC location yet.

I can 100% assure you that they are actively negotiating for an OKC location, which is exactly what was reported.


This kind of thing has been published by competitors regarding Trader Joe's, H&M, Costco, Amazon and virtually every other story we've scooped them on.

Let's hope this is the case. Why OU Daily would report this is a 'head scratch-er' with much dandruff & snow flakes on my parade.

[Pete]

atleast OU daily gives credit! better than can be said for others

This is true.

If I was being less nice I would say all this sort of thing proves is that the person and publication doing the report just sucks at their job.

[jedicurt]

This is true.

If I was being less nice I would say all this sort of thing proves is that the person and publication doing the report just sucks at their job.

but they sent an e-mail that they probably got through the corporate website "contact us" link, and filled out the form and decided to just post the corporate response... i mean that's investigative journalism right???

[d-usa]

Christine Soner, IKEA product placement specialist, has informed The Daily in an email that though IKEA is always looking for new opportunities to expand, they have not announced plans for a store in Oklahoma City and that it is "purely speculation."

Well, nobody has claimed that they announced plans for a store here. Just that they are in the preliminary stages and are looking.

[fromdust]

The robust economy won't make it through next year. I know that's spec on my part, but the signs are there. Because of this I don't see this coming to fruition just like a lot of other projects...cool downtown condos, etc.

[jonny d]

The robust economy won't make it through next year. I know that's spec on my part, but the signs are there. Because of this I don't see this coming to fruition just like a lot of other projects...cool downtown condos, etc.

Well aren't you Mr. Sunshine and Rainbows...the economy has diversified a lot since the last oil price drop. But since you are the life of the party, you already knew that.

[fromdust]

Well aren't you Mr. Sunshine and Rainbows...the economy has diversified a lot since the last oil price drop. But since you are the life of the party, you already knew that.

ooops, I mean the US economy. Worse than '08.

[jonny d]

ooops, I mean the US economy. Worse than '08.

Ah, ok. I can see that, then! Haha! Hopefully not worse than 08.

[BG918]

The robust economy won't make it through next year. I know that's spec on my part, but the signs are there. Because of this I don't see this coming to fruition just like a lot of other projects...cool downtown condos, etc.

Well we're well overdue for a significant market correction. I'm in the construction industry and we're planning for a recession in 2019-22. If a project doesn't get off the ground by mid-next year it will probably be 5+ years out. The only difference in OKC could be if oil prices shoot up like they did last time and buoy the local economy for a couple years before the next inevitable crash.

[jn1780]

I dont think it would be as dire as 08, but we are overdue for a correction. Higher interest rates is soaking up that sugar money. We saw the first signs of the market projectile vomiting yesterday because of this.

[fromdust]

I wish you were right on not being worse than '08, but it will be worse, unfortunately. Let's hope you're right!

[jedicurt]

so anyways. back to the subject... so Ikea is looking per Pete's sources, and Ikea isn't ready to announce that yet. hopefully the talks finish up and are positive and they announce soon.

[HOT ROD]

even if they WERENT ready before, it's only a matter of time before IKEA comes to OKC.

remember how there was the rule of thumb that a metro area needed to be 2m to get one? Well, all of the 2m metro areas have one and now they're coming to those 1.5m and greater. OKC has 1.4m as of last year, so this is right about time for an IKEA to be announced here within the next year.

Totally can accept Pete's claim that they're looking, OKC is big enough and their criteria has relaxed a little bit. An OKC IKEA would kill it in that it would be 200 miles from either existing one in KC or DFW, and would capture this otherwise dead-man's market. IMO, OKC should have been an option before now due to this reason but anyway - better now than never. ..

[midtownokcer]

I had some IKEA furniture delivered yesterday. IKEA contracts with local logistics companies throughout the area. The driver told me his company alone has two trucks and makes about 20 deliveries per truck a day from IKEA Monday-Thursday in OKC alone. That seemed like quite a bit to me, and probably just one reason why they're considering us.

[metro]

even if they WERENT ready before, it's only a matter of time before IKEA comes to OKC.

remember how there was the rule of thumb that a metro area needed to be 2m to get one? Well, all of the 2m metro areas have one and now they're coming to those 1.5m and greater. OKC has 1.4m as of last year, so this is right about time for an IKEA to be announced here within the next year.

Totally can accept Pete's claim that they're looking, OKC is big enough and their criteria has relaxed a little bit. An OKC IKEA would kill it in that it would be 200 miles from either existing one in KC or DFW, and would capture this otherwise dead-man's market. IMO, OKC should have been an option before now due to this reason but anyway - better now than never. ..

I agree, their guidelines have been more relaxed and they are expanding in existing markets now. San Antonio is getting one soon (almost done), and Dallas just opened their 2nd location in Arlington not long ago. It's just a matter of time before OKC gets one to service OKC, Tulsa, Wichita & Amarillo markets.

[Laramie]

even if they WERENT ready before, it's only a matter of time before IKEA comes to OKC.

remember how there was the rule of thumb that a metro area needed to be 2m to get one? Well, all of the 2m metro areas have one and now they're coming to those 1.5m and greater. OKC has 1.4m as of last year, so this is right about time for an IKEA to be announced here within the next year.

Totally can accept Pete's claim that they're looking, OKC is big enough and their criteria has relaxed a little bit. An OKC IKEA would kill it in that it would be 200 miles from either existing one in KC or DFW, and would capture this otherwise dead-man's market. IMO, OKC should have been an option before now due to this reason but anyway - better now than never. ..

Good optimism by many of the previous posts; just want to inject this note about market size & stores:

The nearest stores are Dallas, Kansas City & Memphis more than 200-300-400 miles away respectively. IKEA have penetrated all markets with 2 million+ MSA population or more. They are now looking at markets below 1.5 million; Memphis has a store, their MSA is slightly smaller than OKC's. OKC MSA has a faster growth rate than Memphis by +8.67.

Just a matter of time...

2017 Population estimates:
2017 2010
41 Oklahoma City, OK MSA 1,383,737 1,252,987 +10.44%
42 Memphis, TN-MS-AR MSA 1,348,260 1,324,829 +1.77%

Tulsa's market is 91 miles from OKC via the Turner Turnpike, a potential market that could benefit from an OKC store.

[jn1780]

https://www.cnn.com/2018/11/21/busin...ffs/index.html

This would seem to suggest that IKEA will be more picky when it comes to site selection in the future and will be downsizing the size of any new stores. Their feeling the heat from the online world.

[jedicurt]

https://www.cnn.com/2018/11/21/busin...ffs/index.html

This would seem to suggest that IKEA will be more picky when it comes to site selection in the future and will be downsizing the size of any new stores. Their feeling the heat from the online world.

or will focus more on the US than in European expansion, as they predict less than 75 of the 7500 layoffs will be in the US.

[Pete]

IKEA is still interested in OKC, just taking their time.

My sources tell me they are in active negotiations but no commitment as of yet and there is no set timetable for making a decision.

[tyeomans]

My partner works in a higher position within Chisholm Creek, and he knows one of the leaders behind the development of Chisholm Creek. I have asked him if he knows anything about IKEA coming, and he has told me time and time again that they are still in talks, but being super hush about the whole situation. The last time I asked he said he was told that no more info could be given out at this current time. Not sure what this means, but it sounds exciting??

[HOT ROD]

yes it does sound exciting. Imagine Chisholm with Costco, Sams Club, and Ikea - pretty much all of your destination big box shopping needs not to mention the quality adds in the 'new' shopping district.

I predict fewer and fewer trips needed for OKC residents to outside metros like DFW and TUL.

[stlokc]

If OKC does get an IKEA, I really hope it’s not at Chisholm Creek. My understanding has always been that’s supposed to eventually be a walkable, urbanism neighborhood. Putting a massive, massive big box right in the middle of it with the acres and acres of parking it would need would completely kill the vibe.