Belgian CEO for IKEA France wants 40 stores by 2020 | RetailDetail

Belgian CEO for IKEA France wants 40 stores by 2020

Belgian CEO for IKEA France wants 40 stores by 2020

While the French furniture market struggled, Ikea has managed to keep its footing. CEO Stefan Vanoverbeke is "fairly satisfied" and is still ambitious: he wants to get a 20 % market share by 2020 through another 10 stores.

Level in struggling furniture market

Ikea France has had a satisfying fiscal year: it had to accept a first turnover drop in 2012-2013 (- 4.3 %), but it has managed to keep things level in 2013-2014 at 2.38 billion euro.

 

Knowing that the French furniture market has dropped 2.5 % in the first half of 2014, after it had also dropped 2.9 % in 2013, Ikea's result is more than decent. "Considering the current situation, I'm fairly satisfied", Stefan Vanoverbeke said. Thanks to price drops, he has managed to attract 2 % more customers.

 

Ambitious plans for the future

Vanoverbeke has not given any profit numbers (as IKEA is not on the stock exchange, it isnot obliged to do so), but he does mention an "improvement of the net profit this year" which "gives us confidence to invest".

 

Past fiscal year, Ikea opened its 30th French furniture store in Clermont-Ferrand, while Mulhouse and Bayonne will also get a store in 2015. "By 2017, we will have opened another 7 stores", Vanoverbeke said. He wants 40 French stores by 2020, representing a 20 % market share. In the 2013-2016 period, the new stores will cost 600 million euro.

 

The CEO also wants to launch the (successfully trialed) click&collect system to 5 new stores before rolling it out in the entire network. He even wants an inner-city store in Paris in the long run...

Questions or comments? Please feel free to contact the editors


Chinese internet giant launches attack on Italy

11/07/2018

Chinese internet giant JD.com wants to expand to Italy: the Milan office would be the second European office in a short period of time for Alibaba's great rival.

Flotation Home24 latest success for Rocket Internet

18/06/2018

German investment group Rocket Internet has brought yet another one of its ventures to the stock exchange. Following Zalando, HelloFresh and Delivery Hero, it was online furniture store Home24's turn to raise investments for growth acceleration this way.

Casa v2.0 expands geographically and to home delivery

06/06/2018

Belgian decoration chain Casa has launched a new web shop, that expands from mere click & collect to home delivery. From now on, the Dutch as well can order their furniture for home and garden online.

Blokker Holding has record loss, but sees an upturn

29/05/2018

Blokker Holding has reported a 344 million euro loss for the past fiscal year, largely because of high one-time restructuring costs, according to the group. The implementation of its new strategy is on schedule.

Ikea plans to cut 150 jobs, including in Belgium and the Netherlands

04/05/2018

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.

Beter Bed suffers from poor German results

02/05/2018

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.