Global furniture retailer Ikea is entering the New Zealand market with both physical stores and an e-commerce site.

The business has granted the exclusive franchise rights in the region to Ingka Group, which currently operates 367 Ikea stores across 30 markets globally.

“We are happy to meet the wish from many people for Ikea to open in New Zealand and we aim to make Ikea fully accessible, including stores and e-commerce,” Ingka Group retail operations manager Tolga Öncü said.

“We see this as a long-term commitment and investment in New Zealand, building relationships with customers, suppliers and future co-workers.”

Ingka Group will begin sharing the details of its expansion plans in 2019.

Inter Ikea Systems chief executive Jon Abrahamsson Ring noted that Ingka Group has a lot of experience running the Ikea business across the Asia Pacific region, and will be able to make the brand meaningful to the people of New Zealand.

After unveiling €38.8 billion ($62.1 billion) total retail sales in FY18, Ikea announced plans to expand into South America through a new franchisee Falabella, with stores set to open in Chile, Colombia and Peru.

Another 15 stores are set to open across Mexico, Estonia, Ukraine, Puerto Rico, Oman, Luxembourg, Macau and the Philippines in FY19.

The business said it expects to see continued growth despite challenging retail conditions, with customers travelling to Ikea stores to touch, try and shop the brand’s home furnishings.