Ikea will be cutting 150 jobs, some of them in the Belgian and Dutch branches as well. The plan is part of a major reorganisation effort to help prepare the furniture giant for the growing competition of large e-commerce players.
Dutch mattresses group Beter Bed Holding saw its first quarter turnover drop 4 % compared to last year. Turnover went down in Germany, where a poison scandal forced results down by 12 %, but Switzerland and Spain performed even worse.
Ikea is fully focused on becoming a global presence in urban centers. The furniture chain is currently looking for locations in Paris, Copenhagen, London and Southeast Asia to attract broader audiences with smaller stores.
In the past six years, Ikea unlawfully deducted about one billion euro from its taxes according to the European Commission’s preliminary findings. The EC launched an investigation into the Swedish company’s deal with the Dutch treasury.
Maisons du Monde has broken through the 1 billion euro barrier in 2017. The French furniture chain continues its sturdy growth, also in the United Kingdom, but still adjusted its full-year forecast downward.
Ikea, in collaboration with Accenture, presented its store formula of the future at the Mobile World Congress. It was remarkable to see that it is a small inner-city store with (obviously) a lot of technology.
Swedish Ikea will now also manufacture vegan products. The first item will be the Veggie Dog, a vegan version of the hot dog. Local customers will have to wait until the summer to buy one here as well.
Danish Lars Larsen Group, which owns furniture chain Jysk, has reached record results in its fiscal year 2016/2017: the group generated a 4 billion euro (30 billion Danish krona) turnover and its EBITDA was 3.4 billion Danish krona (450 million euro).
Ingvar Kamprad introduced us to furniture in flat boxes and gave us hours of “puzzle fun” to create a closet. The inventor of DIY furniture and the founder of furniture chain IKEA has passed away in Sweden, aged 91.
The European Commission has officially opened an investigation into Swedish furniture chain Ikea’s tax constructions. The company has a main office in the Netherlands, but also circulates its profits to Liechtenstein and Luxembourg.
Swedish furniture chain Ikea will open two hotels in 2019, one in Antwerp and one in Ghent. Hotel chain Moxy, which it set up together with Marriot, is already present in New York, Paris, Tokyo, Chicago and London.