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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
Thursday, December 8, 2016 - 05:50

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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

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