IKEA prices to fall despite Red Sea disruptions, CEO says in Davos
"Our commitment is to make sure that we prioritise investing in lower prices for our customers," Jesper Brodin, CEO of Ingka Group, which owns most IKEA stores worldwide, told the Reuters Global...
View ArticleEllementry sets sights on 80 stores in 3 yrs, bets on mfg to retail model
While Ellementry is present in most leading e-commerce platforms like Amazon, Myntra, Nykaa, Tata Cliq among others and shop-in-shop stores, it wants to leverage the power and pull of physical stores...
View ArticleStanley Lifestyles eyes expansion in major metro cities with offline store...
"We cater to the premium-luxury segment, our products are priced on the higher side which is why we would like to stick to selling offline as it suits better to the customer. They also always like to...
View ArticleOnline furniture retailer Wayfair to cut 1,650 jobs; shares jump
The online furniture retailer said the job cuts, which affect 19% of its corporate employees, would lead to annual cost savings of $280 million.
View ArticleIkea's India sales rise 61% in FY23, but losses widen to over ₹1,134 cr
Ikea incurred a net loss of more than ₹3 crore every day on average in India in the last financial year, reflecting large-scale investments. Sales in India surged 61% to ₹1,768 crore in FY23 due to new...
View ArticleIkea India launches doorstep deliveries in 62 new markets
With this expansion, Ikea aims to build capacities in its supply chain further, read the release.
View ArticleIkea looks at next round of investment in India after fulfilling Rs 10,500-cr...
IKEA is planning the next round of investment in India to expand its presence, increase sourcing, and further build its volume. The company has exhausted its initial commitment of Rs 10,500 crore and...
View ArticleIKEA India betting on kids range, sees stable growth across children's category
IKEA India said it has seen stable growth year-on-year across the children's category including its educational solutions, soft toys, and furnishing storage solutions for kids.
View ArticleFurniture rental startup Rentomojo raises $25 million in funding round led by...
The company has raised the capital – which it said will be used to further build on the appliances and furniture rental category -- after over two years of closing its last funding round.
View ArticleIKEA to close its store at Mumbai R City Mall by mid-2024
"IKEA has taken a strategic business decision to discontinue its IKEA R-city operations by mid this year and consolidate its Mumbai operations to IKEA Worli, IKEA Navi Mumbai, and online presence," it...
View ArticleIndia ranks no. 1, 2, 3 in Ikea's priority market list for investment: Jesper...
India is Ikea's top investment priority market due to its economic growth and development. The company plans to tap into the growing furniture market, expand its ecommerce services, and open more...
View ArticlePepperfry appoints Mahip Dwivedi as VP marketing
Online furniture marketplace Pepperfry has appointed Mahip Dwivedi as vice president of marketing. He was the chief marketing officer at Tyke Investment before starting in his new role in December.
View ArticleWakefit eyes a turnaround, aims to become profitable by end of FY24
Mattress and furniture maker Wakefit is aiming to return to profitability by the end of the financial year 2023-24. “We are very close to profitability and we will be able to turn positive by the year...
View ArticleHTL Group Singapore plans to expand offline stores presence in India; eyes...
Going ahead in the third quarter of 2024, it also plans to open 10 exclusive stores for the three brands in all the key metro and tier 1 cities including Mumbai, Bangalore, Pune, Delhi, Hyderabad and...
View ArticleGodrej Interio plans to expand its mattress category to Rs 250 cr in next 3...
Dev Sarkar, Senior Vice President (B2C), Godrej Interio said, “With a commitment to innovation and customer well-being, we are poised to grow our mattress category by 20 per cent CAGR for the next 3...
View ArticleMillerKnoll plans to set up more showrooms in key cities across India: Official
The opening up of a dedicated showroom in Chennai in partnership with Buildcraft Interior marks a significant milestone in MillerKnoll's growth strategy, a company statement said here on Sunday.
View ArticleWooden Street to invest Rs 200 crore to take store count to 300
Currently, 80 per cent of products of the brand are crafted in-house at its furniture production facilities that span approximately 15 lakh square feet. Going forward, the brand plans to establish 7 to...
View ArticleLivspace says India business becomes 'cash flow positive' on robust revenue...
"Our revenue has grown 50 per cent CAGR (compounded annual growth rate) in the past two fiscal years. We have become cash flow positive from October-December quarter of 2023-24 in India business, which...
View ArticleRoyaloak Furniture on Expansion Spree, Launches its 168th Store in Tezpur, Assam
With a network of over 200 immersive retail outlets nationwide, Royaloak has established a robust presence in more than 116 key locations, including Hyderabad, Mumbai, Kolkata, Chennai, New Delhi,...
View ArticleWooden Street expands in Jodhpur with its manufacturing and R&D unit
Wooden Street's expansion in Jodhpur will contribute to the local economy, generating 300 job opportunities and fostering skill development in the region, the company said.
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