IKEA | Pixr8 News

11Feb By AnkitaNo Comments

News

Ikea Founder’s Assistant Named New CEO

Jon Abrahamsson Ring, a former assistant to furniture giant Ikea's founder Ingvar Kamprad, has been named new chief executive (CEO) of the Inter Ikea Group, the company said Tuesday. Abrahamsson Ring, 45, will take over the reins on September 1, replacing Torbjorn Loof, 54, who resigned after seven years at the head of the group, it said in a statement. Under Loof's management, the Swedish flat-pack furniture company expanded into 15 new markets and is scheduled to open its first South American store in Chile next year. His newly appointed successor joined Ikea in 1998 as a trainee and worked for the company in Canada before becoming Ingvar Kamprad's assistant for four years and then holding a senior position in China. In 2008, Abrahamsson Ring left Ikea to become CEO of the Swedi...

Ikea to close half its Chinese Stores over Virus Outbreak

30Jan By AnkitaNo Comments

CHINA

Ikea to close half its Chinese Stores over Virus Outbreak

Swedish furniture giant Ikea had temporarily closed half of its 30 stores in mainland China until further notice amid concerns over the deadly new corona virus. "In response to the Chinese government's call for strict and effective disease control, Ikea Retail China will temporarily close around half of the stores in mainland China until further notice, effective from January 29," the company said in a statement. Ikea had last week closed its store in Wuhan, the city where the outbreak originated in late 2019. Chinese authorities said Wednesday that the number of confirmed deaths from the virus has risen to 132 nationwide, with the confirmed total of infections now nearly 6,000 worldwide. Ikea said it was working with authorities in the cities and regions where it operates and ...

IKEA Hyderabad To Use Electric Rickshaw for Home Delivery

13Aug By Gauri SinghNo Comments

News

IKEA Hyderabad To Use Electric Rickshaw for Home Delivery

The Swedish furniture manufacturer IKEA, which recently inaugurated its operations in Hyderabad, has announced that the company will soon be using electric rickshaws for the purpose of home delivery of its products. IKEA is one of the largest furniture retailers in the world. The company designs and sells off ready-to-assemble furniture, kitchen appliances and home accessories. The store in Hyderabad provides 7,500 products including 1,000 products priced below Rs 200. It has been reported that at least 20 percent of the company’s delivery system will work on electric rickshaws in the initial phase. The electric vehicle will be charged at the store that uses 4,000 solar panels installed on the building's roof. Apart from the electricity used for charging the e-rickshaws, a part of...

Ikea To Wage a “Price War” with its First Store in India

2Jun By Lavina TolaniNo Comments

BUSINESS

Ikea To Wage a “Price War” with its First Store in India

Swedish Furniture Making company Ikea could bring in a price war in India as it is all set to open its Hyderabad store, a first in the country, offering about 15% of its product at Rs. 200 or less, as informed by a company spokesperson. Per Hornell, Ikea Market Manager for Maharashtra said, We are very confident that we will enter the market with the lowest possible prices. There will be 1,000 products at prices below ₹200 when we open our store. However, the company is not much in hurry to expand its operations in India and will open its Mumbai store, its second in country tentatively by 2019. Ikea, known for its famous blue box stores has fleeting a digital presence that specialises in a range of do-it-yourself (DIY) products. Currently, it has 403 stores spread across 49 markets...

IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025

17Apr By PriyankaNo Comments

BUSINESS

IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025

Swedish home furnishings chain IKEA today said it has signed a memorandum of understanding (MoU) with the Gujarat government to set up its stores in the state with an expected investment of up to Rs 3,000 crore in the long term. IKEA, which received government approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 percent FDI, has earlier signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores. The company plans to open 25 stores by 2025 in nine Indian cities. The MoU with Gujarat government stands for a mutual commitment from both parties and intends to provide clarity on working methods and ensure a legally and ethically compliant, corruption-free business environment, IKEA said in a statement. "Gujarat is...

7 Quotes from The Biggest Entrepreneur of 20th Century ‘Ingvar Kamprad’

30Jan By RishabhNo Comments

INSPIRATIONAL

7 Quotes from The Biggest Entrepreneur of 20th Century ‘Ingvar Kamprad’

The founder of IKEA and Ikano, and one of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away, at his home in Småland, Sweden, on the 27th of January. Surrounded by his loved ones, he died at the age of 91, following a short illness. Ingvad Kamprad was a great entrepreneur who was hardworking and stubborn, with a lot of warmth and a playful twinkle in his eye. He worked until the very end of his life, staying true to his own motto that most things remain to be done. Here are 7 quotes from his life's experience that will help other entrepreneurs do the miracle that this saga started at the age of just 17 years. “Only those who are asleep make no mistakes.” – Ingvar Kamprad 2. “What is good for our customers is als...

29Jan By NitishNo Comments

News

91 Years Old IKEA Founder Passed Away

The founder of Furniture retailer IKEA and Ikano, and one of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away, at his home in Småland, Sweden, on the 27th of January. Surrounded by his loved ones, he died at the age of 91, following a short illness. Ingvar Kamprad was born in 1926 in Småland in southern Sweden. He was just 17 years old when he founded the company IKEA. Ingvar’s driving force was the vision of creating a better everyday life for the many people. “We are deeply saddened by Ingvar’s passing. We will remember his dedication and commitment to always side with the many people. To never give up, always try to become better and lead by example”, says Torbjörn Lööf CEO and President of Inter IKEA Group. Ingvar Kamprad was a great...