The south bank of the Tagus is getting its own IKEA. On Friday 6 November IKEA Portugal announced that its next store will open in Coina, in the municipality of Barreiro on the Setúbal peninsula, in the spring; trade titles Distribuição Hoje and Jornal Económico put the opening in spring 2027. The store will be on the EN10 road and will follow the more compact format the Swedish retailer launched in Coimbra this summer.
The company’s statement was short. “This opening represents another step in IKEA’s commitment to being ever closer to people and communities, helping to energise local economic activity and improve access to its offer,” it said. It did not give the store’s floor area, the investment or the number of jobs; Forbes Portugal reported that those details will be shared later.
The promise kept
The announcement delivers on what acting country manager Erin Shi told Jornal de Negócios in September, when IKEA committed €34 million to lower prices: the chain would open “at least one more store by the end of the fiscal year”, which closes on 31 August 2027. Coina will be the seventh store, after Alfragide, Loures, Loulé, Matosinhos, Braga and Coimbra. IKEA also runs close to twenty planning studios in Portugal, plus pick-up points and online sales.
The compact template
Coimbra, which opened at Mondego Retail Park this summer, was IKEA’s first new large Portuguese opening in almost nine years after Loulé, and its first in a smaller format. According to Jornal de Negócios it has 4,100 square metres, cost around €5 million and opened with just over 30 staff — a fraction of the big out-of-town stores. Coina will follow that model: a smaller box closer to customers, backed by the online channel and the existing Lisbon-area stores.
The location makes sense on a map. Residents of the Setúbal peninsula — Almada, Seixal, Barreiro, Moita, Montijo, Palmela, Sesimbra and Setúbal — today have to cross the Tagus to reach Alfragide or Loures. One outlet called it the store the region had most wanted.
The numbers behind it
IKEA’s Portuguese accounts for fiscal 2026 (September 2025 to August 2026) have not yet been published. In fiscal 2025 sales rose 1.5 percent to €611.4 million, and Shi said in September that growth continued in both value and volume. The Portuguese stores are run by Ingka Group, the largest IKEA franchisee, which is also present in Portugal through Ingka Centres and Ingka Investments.
Why it matters for the corridor
IKEA is the most visible Swedish brand in Portugal and, through IKEA Industry in Paços de Ferreira and a large base of Portuguese suppliers, one of the deepest Swedish industrial links in the country. A shift to smaller, cheaper stores means more openings at lower cost per site — and more fit-out, logistics, construction and services work for local firms in catchments that were too small for a full-size IKEA. For other Nordic retailers weighing Portugal, Coimbra and Coina are a live test of whether a compact format can serve the market beyond the existing big-box sites.
Sources: IKEA Portugal statement of 6 November 2026 as reported by Jornal de Negócios, Jornal Económico, Forbes Portugal, Distribuição Hoje, NiT and SAPO (6 November 2026); Jornal de Negócios interview with Erin Shi (September 2026); NorthSouth HQ coverage of July and September 2026.