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Swedish furniture retailer Ikea has yet again stepped out of its aisle, expanding its food range with localized mooncakes for the Hong Kong market. Launching four fruit-flavored ‘snowy’ mooncakes (with non-baked glutinous rice flour as a shell), the mooncakes…
Ikea’s business in South Korea has reported 32.6-per-cent sales growth over the past fiscal year despite the impact of the coronavirus outbreak. The success of the retail business over the period has been attributed to a surge in interest in home furnishings…
Indonesian online furniture retailer Fabelio has raised US$9 million in a Series-C funding round led by Taiwanese venture firm AppWorks. The investment now boosts Fabelio’s total funding above $20 million, with the firm on track to closing the funding round…
US office furniture company Steelcase has launched online stores in Hong Kong and Singapore. The Steelcase online stores offer a wide range of office chairs, desks and accessories to help people working remotely adapt their homes for work, such as personal…
Furniture and homewares giant Ikea is reporting a quick return of customer footfall to its stores in China as they reopen after the Covid-19 crisis. The company opened another three of its large-format stores in Mainland China last week, including one in…
Premium furniture and home-decor manufacturer Stanley Lifestyles in India has launched a new flagship in Bangalore as part of its extensive expansion plans for the region. The brand is preparing to build a network of 55 new retail outlets in the territory, at…
Philippine home-store chain AllHome will expand its store network to push its selling space beyond 450,000sqm this year. “We are set to bring AllHome to more locations in 2020,” said the firm’s chairman Manuel Villar Jr. “Our expansion program is both…
Coworking space provider JustCo is turning to shopping malls as it looks to double its Asia-Pacific presence this year. The firm stands poised to launch its services in Singapore’s The Centrepoint mall as well as Amarin Plaza in Bangkok, its fourth space in…
Inter Ikea group chief executive Torbjörn Lööf announced on Tuesday he would step down from leading the furniture business after seven years at the helm and more than 30 years with the business. Head of Ikea franchising Jon Abrahamsson Ring was named as…
Swedish furniture and homewares chain Ikea has closed all of its mainland Chinese stores in the wake of the coronavirus outbreak. The decision, announced Thursday, came just hours after the company said it would shutter half its 30-strong network in the…
A seven-level Ikea eco-store is being built in Vienna – with no car parks, targeting pedestrians, cyclists and public transport users. The new venue features a bookcase-style design with green facades and a green roof terrace with plenty of strolling space.…
Japanese furniture retailer Otsuka Kagu is to become a subsidiary of electrical-appliance chain Yamada Denki following a purchase of a majority shareholding in the business. The move follows bleak business prospects for Otsuka following poor sales and a…
Ikea India is preparing to launch 20–25 more locations, it emerged during a delegation of Swedish royals and businesspeople to the territory that began on Sunday. The firm currently has a store in Hyderabad, and is one of more than 200 Swedish companies…
Ikea says it plans to open in Macau in the first quarter of next year. Located in Taipa, the Ikea Macau store will occupy an area of 90,000sqft, offering a wide range of home furnishing products. The new store will feature several showrooms, an Ikea cafe, and…
Ikea India is set to expand into tier-II cities in the second phase of its development after early success in key markets. The Swedish-headquartered furniture-and-homewares giant has established its presence in Hyderabad and Mumbai and is now working on…
Sales at Ikea stores in Southeast Asia exceeded SG$1 billion (US$723 million) for the first time this year, reflecting healthy growth for a big-box retail business. Christian Rojkjaer, MD of Ikea Southeast Asia, says more than 98 million customers passed…
