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NEWS
Ikea reports sales increase despite crises
Furniture retail giant Ikea was able to increase its turnover in 2022 despite the pandemic, the Ukraine war and inflation. According to the report, revenues climbed 5.6% year-on-year to EUR 39.5 billion in the past financial year. This has now been announced by Ikea’s parent com- pany, the Ingka Group. According to the Group, growth was achieved in most markets. In addi- tion, the company successfully increased prod- uct availability by accelerating its omnichannel
transformation. The Swedish furniture retail chain shut down its business activities in Russia after the outbreak of the Ukraine war.
The Ingka Group is the largest but not the only operator of Ikea stores worldwide. For all twelve franchisees combined, licensor Inter Ikea Systems reports sales of EUR 44.6 billion for the 2022 financial year. In the previous year, the figure was EUR 41.9 billion.
Rezas strengthens its team in Europe
Jeremy Nichols
Morgan Persson
Danish rug company Rezas is strengthening its team in Europe. Jeremy Nichols has been appointed country manager in the UK. His task is to develop market activities for the company. Nichols knows the rug industry and has many years of experience most re- cently working for Asiatic Carpets.
In Sweden, Morgan Persson takes over from Dan Sturesson, who is retiring. Persson comes from the rug retailer Matt-Tema, and accordingly is very knowledgeable about the Swedish retail sector.
chael Rossmann more freedom to pursue his design-oriented work.
Andreas Hühn has management experi- ence as a trained wholesale and foreign trade merchant who for the past several years was managing director of an inter- national wholesaler of drilling tools head- quartered in Southern Germany.
PAD expands management
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PAD Home Design Concept is expanding its management. As of 1 November, An- dreas Hühn is leading the German sup- plier of home textiles, carpets and home accessories alongside founder and man- aging director Michael Rossmann.
Hühn will be primarily responsible for business operations, the company re- ports. This will give CEO and designer Mi-
Andreas Hühn
PHOTO: PAD
PHOTOS: REZAS