Ikea

Explained: What is Matter, the new standard for smart home IoT devices

Developed by CSA in consultation with member companies such as Apple, Google, Samsung, and Ikea, the Matter is a common standard for the interoperability of Internet of Things

IKEA calls 2022 an 'exceptional year' despite challenges including war

Swedish home furnishings giant IKEA said Thursday that despite unprecedented challenges" caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an exceptional year. The world's biggest furniture brand reported retail sales of 39.5 billion euros ($38 billion) this financial year, which ran from Sept. 1, 2021, to Aug. 31. That was a 5.6% increase from the previous year's sales of 37.4 billion euros. However, inflation and supply chain issues led to rising costs and higher prices, meaning sales quantities were down though they cost more and there were struggles to keep shelves full. Online sales down 10% lower from fiscal 2021. We lived up to the challenge achieving solid performance in a disrupted environment, making tough decisions, while always keeping sight of the needs and dreams of the many," said Jesper Brodin, chief executive of the holding company Ingka that manages most of IKEA's stores. He

IKEA lets around 10,000 staff go in Russia as it exits the country: Report

IKEA, the world's biggest furniture brand, shut down its Russian stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia

Racism allegations at Ikea Hyderabad store; Minister KTR says 'appalling'

The Ikea showroom here has landed in an alleged racial controversy after senior journalist Nitin Sethi tweeted that his wife, hailing from Manipur was frisked while others before were not, with senior Telangana Minister KT Rama Rao on Monday describing the incident as "appalling." Sethi further alleged that the person who checked his wife's shopping bags, even sniggered at the fact that she had bought everything and didn't even care to reply why she was singled out. "Racist treatment at @IKEAIndia store in Hyderabad. Only my wife, from Manipur got frisked for goods she bought. No one else before us. And then all supervisory staff came to defend the racism. Great show from an 'international store'. Cheers to another usual day," Sethi tweeted on Sunday. "And the supervisors said, yeah call police if you want, we will deal. And it didn't end there. Daily racism that our people face," he said in another tweet. Responding to Sethi's allegation, Ikea India in a tweet said it believes tha

Ikea to open small city outlets along with mega formats in India

Swedish furniture retailer IKEA plans to open small city outlets along with its mega format stores in India supported by online channel, tweaking its strategy in the wake of changing consumer behaviour, according to a senior company official. The company,which had in 2013 received government approval for its Rs 10,500 crore investment for opening stores in India, had envisaged setting up 10 furnishing and home-ware stores as well as allied infrastructure in over 10 years in India. Subsequently, it planned to open 15 more stores. So far it has set up three mega format stores in Hyderabad, Navi Mumbai and Bengaluru and two city centres in Mumbai. "A little bit slowed down during the COVID period but we are also learning from the first markets we have opened," IKEA India CEO Susanne Pulverer told PTI in an interview when asked about the impact of the pandemic on the company's expansion plans in the country. On the way forward, she said, We need to be close to where people are. So that

IKEA's retail operator to invest 500 mn euros to open city centre in Noida

In India, IKEA has opened smaller stores within city limits as it aims to be closer to the customer

Ikea India increases prices of some products as inflation bites

'We have done some adjustments where it's possible, and we have protected (price points) to be affordable at lower prices'

Deal with Zoetis could be worth $500 mn in 10 yrs: Syngene In'l chief

In a Q&A, Jonathan Hunt, MD & CEO of the Biocon arm, dwells on his firm's initiatives to overcome supply chain bottlenecks and other issues

Road fuel demand peaks in 2027

In just five years from now, global road fuel demand is seen peaking

Bengaluru: Karnataka CM Bommai inaugurates largest IKEA store in India

With a planned investment of Rs 3,000 crore in Karnataka, IKEA is expecting to attract close to five million visitors this year in Bengaluru, the company had said on Tuesday.

Sweden's IKEA to open large-format store in Bengaluru on June 22

The large-format store, spread over 12.2 acres (460,000 square feet), will be connected to the Nagasandra metro station and have over 7,000 affordable and sustainable home furnishing IKEA products

IKEA India appoints Susanne Pulverer as its first woman CEO, CSO

Swedish home furnishings retailer IKEA announced the appointment of Susanne Pulverer as its new and first woman Chief Executive Officer and Chief Sustainability Officer, for its India business.

Looking forward to rollout of India's national retail policy: IKEA

In its Budget wishlist, IKEA India also called for reduction of GST rates "on products that are basic to life at home"

Tips on choosing suitable storage solutions to optimise your living space

Solid wood and mid-to-dark brown furniture is giving way to lighter hues. Customisation is in as people want solutions that suit their lifestyle and help them shed clutter

Top headlines: Bipin Rawat dies in chopper crash; GST rate recommendations

Bondholders of Vodafone Idea will receive their interest in time on the due date of December 13. More on that story in story in top headlines.

Ikea India CEO sees 30% of sales coming from online orders due to Covid

In a Q&A, Peter Betzel, CEO and chief sustainability officer of Ikea India, talks about the company's expansion plans in India

IKEA malls business to invest Rs 7,000 cr in India, says top executive

IKEA's malls business said it was building two centres in Gurugram and Noida

IKEA to launch first small-format city store in Mumbai on Thursday

The Swedish furniture giant is set to launch the store at Worli

After Gurugram plans, Ikea eyes mega presence in Delhi to boost growth

After announcing its plans to enter Gurugram, Sweden-based Ingka Group's home furnishings brand Ikea plans to have stores in Delhi as well as Noida.

Ikea to open first city store in Mumbai spanning 80,000 sq ft on Dec 9

This is smaller than its traditional big box stores that typically spread across 400,000-500,000 sq ft and are usually situated on the outskirts of cities