You are here

Ikea sells key subsidiaries for 5.2b euros in major overhaul

Sale to Inter Ikea, which owns the brand, aimed at helping retailer respond to shifts in consumer preferences

BT_20161208_DNIKEA8_2634004.jpg
Ikea Group, which operates most Ikea stores, sold units that manage its supply chain and design, purchase and manufacture all its furniture to Inter Ikea, which is based in Delft, in the Netherlands.

Stockholm

THE Ikea Group said on Wednesday that it has sold key subsidiaries for 5.2 billion euros (S$7.9 billion) as part of an overhaul to help the furniture retailer react to new competition and shifts in consumer preferences away from its vast out-of-town stores.

The group,

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom