Ikea stores owner Ingka buys warehouse software firm Made4Net
THE largest owner of Ikea stores has acquired supply chain software firm Made4Net as the Swedish furniture retailer plans a major expansion in the US and aims to grow its online sales.
Ingka Group’s investment arm Ingka Investments bought the company for an undisclosed sum, the company said, in order to improve Ikea’s warehouse and logistics operations as shoppers increasingly demand next-day or same-day delivery.
Made4net’s software analyses companies’ warehouses, worker productivity, and delivery routes to find efficiency gains and cut costs.
“Our business currently requires a better fulfillment operations system with more accurate data that better supports handling for our customers,” said Tolga Oncu, head of Ikea Retail at Ingka Group.
Ingka plans to open eight new big Ikea stores and nine smaller stores in the US, as well as upgrading existing stores. The US is Ikea’s second-biggest market by sales after Germany.
Under the deal, Made4Net will operate as an independent subsidiary and continue to serve its existing customers, which include H&M, DHL, and Uber. REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Wall Street bulls say stock rally can resume even without rate cuts
Yen tumbles to 34-year low; US dollar gains after inflation data
Fed repricing gives rise to new equities playbook in Asia
Dasin Retail Trust’s creditor to repossess director’s properties over loan default
Is Jurong Island’s carbon test bed too small and conservative? A*Star institute head thinks not
Tech rally propels emerging stocks to best week since July