One Portuguese company that has no fear of Ikea’s imminent opening in the Algarve is Conforama whose new store in Olhão on the EN125 opens this coming Thursday, July 14th
The site was occupied by furniture retailer Moviflor which ended its 40-year history with debts of around €130 million and the closure of all its stores in October 2014.
In the Algarve, Conforama has a store in Albufeira and is following a 'slowly but surely' expansion plan using old Moviflor stores where possible.
"The main objective of the company is to achieve first place in the sale of furniture and home furnishings in Portugal so it is very important to expand to new cities,” said a company spokesman in March this year, well aware of the forthcoming opening of Ikea near Loulé later this year or early next.
The expansion plan announced in November 2015 by Conforama's management included the opening of 12 new stores to boost turnover to €200 million by 2017. One of the strategies was to take over the stores that had been occupied by Moviflor.
Conforama is owned by the South African Steinhoff group which has strengthened its offer in the north and centre of the country and now is boosting its presence in the Algarve.
Conforama’s Iberia’s boss, Manuel Estevez, said last November that the company wants to continue investing in the market and that "Portugal is very attractive and is a country where the brand has been present since 1991 for consumers who like to decorate and furnish their homes."
Now that the property market is showing signs of recovery, Esteves believes that the Algarve’s residents will regain confidence and start to buy products for their homes.
To mark next Thursday's opening, ten €500 vouchers will be given away in the new store, one every half hour - no doubt some terms and conditions will apply but the company is keen to attract people to opening discounts on furniture, kitchens, decor and home appliances.
