Economy

IKEA launches pet furniture range

IKEA launches pet furniture range”

According to the Ikea catalog, the "comprehensive" collection, which is named after the Swedish word for "shaggy", was developed by "pet loving designers with support from trained veterinarians".

The move would see Ikea - which has out-of-town stores all over the United Kingdom - list its furniture on sites like Amazon, despite selling 9,500 products on its own site. "Our customers will see new initiatives, both physical and digital", he told Reuters.

Additionally, numerous Lurvig products are created to integrate seamlessly into the Ikea furniture you already have around your house.

With IKEA Group focusing fully on retail, the hope is that it will be better placed to defend its market-leading position and maintain growth as competition and consumer expectations shift towards online shopping and home delivery.

Torbjörn Lööf, chief executive of the company, said that it was also looking at opening smaller stores with less stock in city centres.

The new stores would also not need parking lots or large inventories thanks to expanded home delivery services.

The group is also planning a digital platform next year that mimics the IT sector's "open-source" software development, Loof said.

"We want to learn, and know what it is for a company like Ikea to be there".

Franchisor Inter IKEA said yesterday that stores worldwide turned over a total of €38.3 billion euros in the fiscal year to August. In 2015/16, IKEA Group reported a 7 per cent rise in sales, including a 5 per cent rise in comparable store sales, but that included two subsidiaries since sold to Inter IKEA.

Ikea UK and Ireland's annual sales will be released later this year.



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