Furniture
Ikea's retail holding company, Ingka Group, will allocate an additional 4 billion euros to invest in renewable energy. In addition, investment vehicle Ikea Foundation is pumping another 1 billion euros into reducing carbon emissions.
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General
Cross-Border Commerce Europe has published its third edition of the "Top 500 online cross-border EU retailers", an annual ranking of the 500 best European cross-border online stores.
Yesterday, the 'espionage' trial against Ikea started in France. The French branch of the furniture giant is accused of unlawfully collecting and disclosing personal data, and violating professional confidentiality between 2003 and 2009.
By the French Government's order, around 400 large shopping centres and stores have been closed down as of today. Prime Minister Jean Castex hopes this will curb the further spread of the Covid-19 virus.
Ikea will start selling spare parts to consumers worldwide. The world's largest furniture retailer wants to extend the lifespan of its products. The initiative is part of a greater sustainability campaign.
After seventy years, Ikea will stop publishing its paper catalogue. "Times change", the company says, speaking of an "emotional but rational decision".
The corona pandemic has caused a digital acceleration at Ikea. The retailer managed to save the furniture during the lockdowns thanks to the roll-out of click & collect services.
Inter Ikea, master franchiser of the Ikea stores, saw its profit grow by 13% last year, exceeding 2 billion euro. Consumers spend more on furniture in times of corona, and margins increased.
Ikea will soon launch a remarkable international campaign called 'BuyBackFriday'. It gives customers the opportunity to exchange their old Ikea furniture for vouchers. Critics see it as a publicity stunt.
Ikea announced retail sales of 35.2 billion euros in the financial year to September. That is 1.5 billion less than a year earlier, despite online growth of 60%. Nevertheless, this is a strong performance according to the furniture chain.
Electronics
Ikea will remove all non-rechargeable alkaline batteries worldwide by 2021. In this way, the furniture retailer wants to help reduce greenhouse gas emissions and the amount of toxic waste.
Ikea is to open a second-hand store, where only used and refurbished furniture from the home interior chain is sold. The new store concept is intended to help the Swedish retailer with its sustainability ambitions.
Ikea is ready for a "green recovery" after the Covid-19 crisis. The CEO of Ikea Belgium has written an open letter, calling for cooperation and "sustainability as a fully-fledged business model". He demands that recovery plans take into account the climate crisis as well.
Ikea has said it wants to reimburse the state aid the company received in nine countries, including Belgium, during the coronavirus crisis.
Property
Ingka Centres, owner of shopping centres and part of the Ikea Group, wants to enter the American market. The real estate company is in talks to refurbish properties on central locations in major American cities.
As Belgian stores were allowed to reopen today, the image is rather mixed: some chains (like Ikea) saw hours-long queues, others remained almost completely empty.
