In a month that's shaping up to be huge as far as luxury deals are concerned, the latest news is that LVMH is boosting its stake in Off-White. Virgil Abloh's streetwear label will now be 60% owned by the French giant.
A French court on Tuesday ordered Ikea to pay a 1 million euro fine in a spy case involving its employees, as the world's biggest furniture retailer was found guilty of storing employee data it obtained improperly.
A venture part-owned by Finnish forestry group Stora Enso, H&M and IKEA said on Tuesday it was set to build a demonstration plant in Sweden for a new, more sustainable wood-based textile fibre after years of research.
IKEA's Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said.
Ikea's shopping malls business said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close.
Ikea sees sales returning to growth this year after the coronavirus crisis boosted shoppers' interest in spending more on their homes, a trend the world's biggest furniture retailer believes is here to stay.