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Inter IKEA Systems B.V., [6] [7] trading as IKEA (/ aɪ ˈ k iː ə / eye-KEE-ə, Swedish:), is a multinational conglomerate, founded in Sweden but now headquartered in the Netherlands, that designs and sells ready-to-assemble furniture, kitchen appliances, decoration, home accessories, and various other goods and home services.
Initially named "Poem," it was renamed to "Poäng" in 1992, and the seat part was changed from tubular steel to wood, which allowed the chair to be flat-packed and led to a price reduction of 21%. The color, pattern, and material of the upholstery were also repeatedly changed to account for changing customer preferences. [ 1 ]
IKEA opened first store in India with 37,000 m 2 (400,000 sq ft) in Hyderabad on 9 August 2018. [106] IKEA opened its second store in Navi Mumbai on 18 December 2020, [107] and its third outlet and first smaller format "city-store" in Worli, Mumbai on 9 December 2021. [108] IKEA plans to have 30 stores by 2028.
The internationalisation of ILVA reverses the common trend of retail internationalisation offered by literature. ILVA, rather than making acquisitions of other stores, was acquired by Martin Toogood in 2003, with a view to internationalise into the UK. Martin Toogood believed that there was a gap in the UK middle market of furniture retailing.
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[1] [2] Some common types of tables are the dining room tables, which are used for seated persons to eat meals; the coffee table, which is a low table used in living rooms to display items or serve refreshments; and the bedside table, which is commonly used to place an alarm clock and a lamp.
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