IKEA Asia revenue contribution to triple

China has one of the world's fastest growing economies and is Asia's largest retail market after Japan, growing 14 percent annually. That growth in domestic wealth is attracting foreign players.

Home improvement chain B&Q, owned by Britain's Kingfisher, last year opened 10 new stores in China, increasing overall sales by 41 percent, more than doubling the $50 billion market's 15 to 20 percent growth.

Moreover, the fast growth in China could accelerate in two or three years as IKEA's footprint spreads.

"When we have 10 stores it would be possible to work on building four or eight new stores at the same time," he said.

But the fast growth is new to IKEA and posing challenges. "We face the increasing challenge of growing rapidly and at the same time having to keep our existing business in the best possible shape."

(US$=7.55 yuan)