Furniture
This August, Ikea's shelves will be displaying wi-fi speakers designed by the furniture chain in collaboration with Sonos. This will bring smart devices and the internet of things closer to everyone, IKEA believes.
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Swedish furniture giant IKEA has announced it will open its first true city centre store in Paris on 6 May. At just 5400 sqm, it will be Ikea's smallest real store ever (excluding pick-up points).
Vente-Unique, a discount platform for furniture, saw its turnover rise 14 %last year. It is the seventh time in a row they manage a double figure growth.
Heavy investments in logistics and digitisation have taken quite a bite out of Ikea's profits in the past financial year, as the Swedish furniture chain has decided not to burden its customers with these costs.
Danish furniture chain JYSK continues its growth with a turnover of 3.6 billion euros in its financial year 2017-2018. The new record is mostly due to a large number of store openings and the chain's entry into the United Arab Emirates.
Kingfisher, Europe's second largest group of DIY chains, is leaving Portugal, Russia and Spain. The group wants to focus on its primary markets, including France, where their Castorama chain is struggling.
Swedish furniture chain Ikea plans to cut 7,500 jobs as part of its transformation plan, which should help the retailer cope with "changing customer behaviour". On the other hand, the chain will create 11,500 jobs in emerging markets.
Dutch Hema is feeling the strength of its new owner Marcel Boekhoorn. Four of the current eight directors have to leave the company in the next few months, they will not be replaced.
Not only are all 23 of Blokker's outlets in Wallonia running at a loss, the same is apparently true for the Flemish stores. Analysts fear a definitive end to the chain's Belgian branch in early 2019.
American internet platform eBay has sued Amazon because the latter has allegedly tried to lure away professional sellers in an underhand way. Earlier this month, the former auction site had declared its competitor in default.
Dutch retailer Hema has finally found a new owner: Ramphastos Investments. This investment company in the hands of Dutch enterpreneur Marcel Boekhoorn has paid an undisclosed amount for the internationally successful chain.
In order to better meet the expectations of online shoppers, Ikea is changing its store policy. A new type of inner city shops should become the 'missing link' between its usual large department stores and the web shop.
Swedish Ikea wants to start in another dozen new markets in the coming years. In mature markets, like Belgium, the Swedish chain will cut back on its activities.
The District Court of Amsterdam has declared itself competent to handle the mass claim of investor association VEB against South African Steinhoff. Last year, the parent company of the French home improvement chain Conforama was compromised by an accounting scandal.
Scandinavian home improvement chain JYSK has achieved a record turnover of 2.16 billion euro: CEO Jan Bøgh is particularly happy with the strong growth in the number of customers.
Belgian foam rubber manufacturer Recticel is looking into plans to sell its own mattresses online to consumers. The web shop "can be operational in six months' time", even if the official decision has not yet been taken.
