Furniture
Ikea's retail holding company, Ingka Group, will allocate an additional 4 billion euros to invest in renewable energy. In addition, investment vehicle Ikea Foundation is pumping another 1 billion euros into reducing carbon emissions.
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Casa International gets new owners. The Blokker family is selling the chain to the current management and to Globitas, an investment company specialised in the relaunch of companies in difficulty. Financial details will not be disclosed.
The compulsory store closures in the Netherlands affected Beter Bed's revenue in the first quarter. However, once customers have been able to shop by appointment again, things have improved considerably.
Yesterday, the 'espionage' trial against Ikea started in France. The French branch of the furniture giant is accused of unlawfully collecting and disclosing personal data, and violating professional confidentiality between 2003 and 2009.
How can hardware and home furnishing retailers make online sales profitable? On average, delivering a piece of furniture to a home costs the retailer more than it yields. Yet, consumers increasingly take it for granted.
Ikea will start selling spare parts to consumers worldwide. The world's largest furniture retailer wants to extend the lifespan of its products. The initiative is part of a greater sustainability campaign.
Casa International, owned by the Blokker family, has sold its only three-year-old distribution centre in Olen. The retail chain is suffering heavily from the corona crisis.
In the autumn of this year, all of Jysk's German stores currently called Dänisches Bettenlager will be renamed Jysk. The Danish furniture retailer has already done the same in Austria.
The Belgian family business Facq, a specialist distributor of bathrooms and heating, is being taken over by GC-Gruppe, a German sector partner. The Facq family will remain a minority shareholder.
The Scandinavian design brand Ferm Living changes hands: Belgian investment group Vendis Capital sells its majority stake to Maj Invest Equity. The label had been in Belgian hands for five years.
After seventy years, Ikea will stop publishing its paper catalogue. "Times change", the company says, speaking of an "emotional but rational decision".
After creditors had previously agreed to the reorganisation plan of decoration chain Casa International, the Commercial Court has now also given its approval.
The corona pandemic has caused a digital acceleration at Ikea. The retailer managed to save the furniture during the lockdowns thanks to the roll-out of click & collect services.
Inter Ikea, master franchiser of the Ikea stores, saw its profit grow by 13% last year, exceeding 2 billion euro. Consumers spend more on furniture in times of corona, and margins increased.
Ikea will soon launch a remarkable international campaign called 'BuyBackFriday'. It gives customers the opportunity to exchange their old Ikea furniture for vouchers. Critics see it as a publicity stunt.
French decoration chain Maisons du Monde has opened its 23rd Belgian store, in the centre of Antwerp. The retailer adds more services and brings the online world to the physical store.
