SEOUL, Dec. 15 (Korea Bizwire) – IKEA Korea, the South Korean branch of the world’s largest furniture brand, has faced a continued downturn in its performance, reversing the growth observed last year. After experiencing a sales decline for the first time since entering the Korean market, IKEA Korea also posted its first fiscal-year loss this year. [...]
SEOUL, Dec. 16 (Korea Bizwire) — IKEA Korea saw its sales fall this year due to the spread of COVID-19 and a drop in home sales, the first such decline after eight years of continuous growth in its South Korean operations. According to company data, the South Korean arm of the Swedish furniture maker’s sales [...]
SEOUL, Sept. 29 (Korea Bizwire) — The local unit of global furniture giant IKEA said Friday it will launch an augmented reality (AR) technology-based mobile application next week to provide a better chance for customers to shop for its products, with its second outlet set to open in October. IKEA Place, where people can virtually [...]
SEOUL, June 22 (Korea Bizwire) – It’s been a good year for IKEA Korea as the Swedish furniture giant is set to top its sales from last fiscal year. IKEA, since the opening of its Gwangmyeong store in December 2014, has reshaped the landscape of the country’s furniture industry, with the Gwangmyeong branch becoming the company’s [...]
SEOUL, July 19 (Korea Bizwire) — IKEA, the Swedish furniture giant, has stopped selling Malm dressers that have caused several child deaths in North America, but will continue selling them to customers in Korea. Given the company’s position, the Korean Agency for Technology and Standards (KATS) on July 19 demanded that IKEA Korea change its [...]
SEOUL, June 22 (Korea Bizwire) — Prices of couches and wardrobes sold by IKEA Korea, the local unit of Swedish furniture giant IKEA, are 15-20 percent higher than those in other countries, a poll showed Monday. The survey by local consumer advocacy group Consumer Research showed that the price of 126 products sold in the [...]
GWANGMYEONG, Korea, Jan. 22 (Korea Bizwire) – IKEA Korea was embroiled in controversies over its perceived high pricing policies and its map favoring Japan even before opening its first shop in Korea. However, one month after opening it’s first store in Korea, the business is a resounding success. On January 21, IKEA Korea welcomed its 1 [...]
“It took 40 minutes to park and took another 40 minutes to 1 hour to get into the store.” “I saw ambulances waiting in front of the store as too many people flocked to the opening day.” “There were more people crowded inside the sales floor. I waited more than 30 minutes to use the [...]