IKEA’s City Paris la Madeleine store in Paris, France. Credit: CNW Group / IKEA Canada.

IKEA Canada has announced plans to expand its footprint by opening its first downtown store in Toronto.

The 6,148m2 store will be designed like a traditional IKEA store, but smaller and more in line with the neighbourhood’s urban fabric.

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The store will feature more than 2,000 IKEA products available for purchase and immediate takeaway. Larger furniture items available for home delivery will also be on display.

In order to develop the store, IKEA’s partner company Ingka Centres has acquired the 12,000m2 Aura Retail Podium property on Yonge Street.

The store, due to begin operations later this year or early next year, will be IKEA’s fifth in the Greater Toronto Area.

The retailer currently operates stores in Burlington, Etobicoke, North York and Vaughan.

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IKEA Canada CEO and chief sustainability officer Michael Ward said: “IKEA Canada is committed to becoming more accessible by bringing our stores closer to where Canadians live, work and socialise.

“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.

“As life at home continues to evolve and take on new meaning, we’re excited to bring our passion, knowledge and home furnishing expertise to downtown Toronto.”

Ingka Centres managing director Cindy Andersen said: “The acquisition of the Aura Retail Podium marks our entry into the Canadian market.

“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 be closer to our customers.

“We’re delighted to create a vibrant, retail-led destination and bring IKEA closer for many people of Toronto“.

In January, IKEA reopened its Winnipeg store for customers after temporarily closing it due to the coronavirus pandemic.