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IKEA bolts on kitchen installer Traemand in services shift

Tue, 15th Sep 2020 16:15

STOCKHOLM, Sept 15 (Reuters) - Ingka Group, which owns most
IKEA stores around the world, has bought the remaining 51% of
kitchen installation firm Traemand as part of its strategy to
offer customers more services.

Traemand connects customers of the world's biggest furniture
brand with sub-contractors for the planning and installation of
IKEA kitchens in the United States, Canada and Britain.

Ingka Group, which bought a 49% stake in U.S.-based Traemand
in 2018, declined to disclose a price for the latest purchase.

"The acquisition of Traemand is part of accelerating Ingka
Group's retail transformation, where offering customers an
accessible and affordable service is an important part," it said
in a statement on Tuesday.

Having long relied on customers heading to out-of-town
stores and carrying and assembling the goods themselves, IKEA is
shifting towards inner-city locations combined with more digital
and other services to keep up with changing shopping habits.

IKEA operates through a franchise system, with Ingka Group
the biggest franchisee to brand owner Inter IKEA.
(Reporting by Anna Ringstrom;
Editing by Alexander Smith)

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