Swedish retail brands shine in latest ranking of European brands
Swedish global home furnishing brand IKEA (brand value up 2% to EUR15.4 billion) has achieved an uplift in revenues despite relatively flat volumes as it implemented price hikes to offset inflation and supply chain issues. Nonetheless, 2023 saw IKEA expand its retail operations, becoming available in markets including Estonia, Oman, Philippines, Puerto Rico, and South America. In addition to global expansion, IKEA has also continued to take steps towards opening more city-centre stores in a bid to improve in-store visits and encourage consumer loyalty.
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