IKEA to expand its online presence and improve e-commerce capabilities

Key Signals in Retail and Consumer Goods

Centre Setup and Expansion
Adidas opens new retail outlet in Lagos to expand the market frontier
The new store is in the Ikeja City Mall and is the brand’s second outlet in Lagos, following the opening of its first store in 2020. The move is part of Adidas’ plan to increase its market share in Nigeria, where it faces competition from other sportswear brands. Read More>>
IKEA to open 2nd full-service store in Carolina in 2024
Ikea is set to open a second full-service store in Carolina, Puerto Rico, in 2024. The new store will be similar in size and design to the retailer’s first full-service store in the country, located in Bayamon, and will offer more than 9,000 products. Read More>>
BlaBlaCar to open an office in India to expand business
The company has seen strong growth in the country, with over 4 million members and a presence in more than 250 cities. BlaBlaCar aims to increase its user base and expand its services in India, which is one of its key markets. Read More>>
Mass Hiring
Food City to hire over 1,000 new employees across Georgia, Kentucky, Tennessee, and Virginia
The company is recruiting for a variety of positions, including cashiers, stockers, meat cutters, and cake decorators, among others, and offering flexible schedules, competitive pay, and benefits. Read More>>
Volvo Trucks provides 6 Volvo VNR Electric Trucks to Coca-Cola Canada Bottling to support its sustainability initiatives
The trucks will be used for urban distribution and offer a range of up to 240 km on a single charge. Read More>>
Logent and HelloFresh have agreed on contractual changes regarding operations in Sweden and Norway
The new agreement will lead to Logent managing HelloFresh’s logistics operations in both countries, resulting in cost savings for HelloFresh and increased efficiency in logistics management for Logent. Read More>>
Mergers and Acquisitions
Sampler acquires Abeo to expand beauty portfolio
The acquisition will allow Sampler to expand its portfolio and offer end-to-end brand solutions to beauty brands looking to connect with their customers through product sampling. Read More>>
Saputo to sell two fresh Milk Processing Facilities in Australia
The facilities are being sold to Australian fresh dairy company Lactalis Australia for USD 210 million. The sale is expected to be completed by the end of July 2023, subject to regulatory approval. Read More>>
Clorox to lay off about 200 amid ongoing restructurings
The company has been facing challenges due to supply chain issues, inflation, and increased competition, among other factors. Clorox’s restructuring plan aims to improve its long-term growth and profitability. Read More>>
Executive Movements
Drew Fernandez appointed as VP And HR Head of Coca-Cola Europe operating unit
Fernandez took to LinkedIn to inform about the development. His inspiration lies in transforming businesses and accelerating the future of work, along with grooming modern global talent. Read More>>
Servco Pacific names new president and CEO
Servco Pacific has announced the appointment of a new President and CEO, Rick Ching, effective immediately. Ching, a longtime employee of the company, succeeds Mark Fukunaga, who retired after serving the company for 42 years. Read More>>
Lamb Weston Holdings announces the appointment of Mike Smith as Chief Operating Officer
Lamb Weston announced the appointment of Mike Smith as the company’s Chief Operating Officer, effective May 29, 2023. In this newly created position, Smith will have accountability for the Commercial, Supply Chain, Agriculture, Marketing, and Innovation organizations for the company. Read More>>

Latest Industry Insights from Draup Braindesk

Key Funding Alert

IKEA investing USD 2.2 Bn in omnichannel growth strategy
The move comes as the company seeks to capitalize on the surge in demand for home furnishings and online shopping during the COVID-19 pandemic. The investment will be used to expand IKEA’s online presence, improve its e-commerce capabilities, and build new small-format stores in urban areas. Read More>>

Startup Spotlight

Company – Edgard & Cooper
Total Funding – USD 45.12 Mn
About: Edgard & Cooper offers food for dogs and cats made with natural and nutritious ingredients. The company’s products are made with fresh meat and simple ingredients making them more balanced than over-processed pet food. Read More>>

Latest Reports Published in Draup

Conagra Brands Account Intelligence Report: 
Conagra strengthens its organization to improve its supply chain activity, investor relationship maintenance, and expand sales and marketing operations. Read More>>
Sobeys Inc. Account Intelligence Report: 
Sobeys focuses on digital customer service by offering its modernized mobile application and website to provide its customers with a wide range of groceries products, in-store pharmacy services, fresh farming products, and appliances. Read More>>
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