Reuters Business Report - 27 billion euros is today's daily digit in Europe - record revenue at the Swedish furniture group Ikea.It was up 9.5 percent for the year to last August. The privately-held firm is known around the world for its low-price, self-assembly furniture. It puts its success down to consumers needing cheaper goods during economic downturns. It gained share in all markets while like-for-like sales growth in Europe, where it does most of its business, remained constant. Last year Ikea announced plans to boost expansion and open 25 news stores a year by 2015 - with an aim to double sales by 2020. New horizons include Serbia, Croatia and South Korea - along with India - where a key investment board has just backed its bid the set up stores. |
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