Large Norwegian furniture merger in the making

Large Norwegian furniture merger in the making

Norwegian furniture group Ekornes wants to purchase furniture discounters Internasjonal Møbel Gruppe, also from Norway. Stressless’ parent company wants to launch IMG in markets where it already has a strong presence. If the research of the company’s books goes according to plan, the purchase should be finalized by 1 May 2014.

Increase turnover, lower costs

The budget furniture of IMG is made in Thailand and Vietnam and generated a turnover of some 30 million euro last year, but Ekornes is aiming for turnover growth and synergy advantages with the purchase. The combined purchase power and a more efficient logistics system should help achieve these goals.

 

IMG is currently mostly active in Scandinavia, the United Kingdom, Germany, North America and several markets in Asia and Oceania. IMG will continue to be a separate brand, with its own products and its own management, even when Ekornes becomes its parent company.

 

Ekornes claims to be Scandinavia’s largest furniture manufacturer, with 6 Norwegian factories and 1,400 employees. Brands like Stressless (couches, sofas), Ekornes Collection (sofas) and Svana (matrasses) are all part of the company, whose total 2012 turnover was 330 million euro.

 

 

 

(Translated by Gary Peeters)

Questions or comments? Please feel free to contact the editors


Two possible locations left for Ikea in West Flanders

25/07/2017

Swedish furniture chain Ikea has identified two possible locations for a new store in West Flanders: the Ring Shopping Kortrijk Noord and Ter Biest in Wevelgem.

Another turnover growth for Beter Bed

14/07/2017

Beter Bed Holding’s second quarter turnover grew to 94.6 million euro, up 5.3 % compared to last year. Even if the Sängjätten acquisition is excluded, the company still posted nice growth numbers.

Danish designer brand Bolia opens store in Ghent

26/06/2017

A new Scandinavian design brand will venture into Belgium: Danish Bolia opened its first Belgian store on 22 June in a very special location: the “Wolweverskapel” (the wool weaver’s chapel) in the Kortedagsteeg in Gent. 

Apple and Ikea into augmented reality together

23/06/2017

Technology company Apple and furniture store chain Ikea are collaborating on augmented reality that should be revealed in the fall. The app should give customers the opportunity to see how their purchase fits their own interior.

Ikea wants to sell through third party online platforms

08/06/2017

Swedish furniture chain Ikea wants to launch a pilot program next year, which would bring the chain’s products to third-party web shops like Amazon or Alibaba.

Ikea jokes about other uses for its famous blue bag

02/06/2017

Ikea Dubai released a limited edition of its famous blue Frakta bag. This one includes instructions about how to use the bag in other ways.

Back to top