Peleton co-founders invest in rugs

With its combination of fitness equipment and online fitness courses, Peloton has quickly become a billion-dollar company. Now it is reported that co-founders John Foley, Hisao Kushi and Yony Feng have invested USD 25 million in rug start-up Ernesta. Ernesta offers designer-oriented, custom-made rugs made from a variety of materials.

Ikea grows by 7 per cent in Germany

Ikea Germany ends the 2021/22 financial year (31 August) with sales of just under EUR 5.7 billion (+7.1%). Of this, EUR 1.3 billion was achieved in online retail. Its share of retail sales excluding food fell from 35.1 to 24.5 % because the Corona restrictions were gradually removed in the past financial year and, unlike in the 2020/21 financial year, there was no longer a lockdown. The average receipt in bricks-and-mortar retail rose by 2.5% to EUR 104.12, while online it was EUR 243.64, around 30% higher than in the previous year.

Domotex Asia 2023 again in Shanghai

After the local authorities gave the green light at the end of October 2022, Domotex Asia/China Floor in Shenzhen, China, went on stage at the beginning of November. Previously, the 24th edition of the floor coverings trade fair had been postponed several times due to Corona restrictions. In 2023, the event is planned for 29 to 31 May, then again in Shanghai.

India Carpet Expo in March 2023 in Okhla, New Delhi

After the India Carpet Expo was held for the first time in Bhadohi and not in Varanasi in October, the fair will again take place in Okhla / New Delhi next spring. From 15 to 18 March 2023, the Indian carpet export promotion council CEPC expects 250 exhibitors in the halls of the NSIC exhibition complex. The international buyers are expected to be offered a wide range of products from all major carpet producing regions of India. The manufacturers and exporters come from Bhadohi, Mirzapur, Varanasi, Agra, Jaipur, Panipat and Srinagar.

Poco: Prototype with a new concept

Poco wants to go beyond discount with a new concept in Pforzheim (Germany). The furniture discounter has invested 4 million euros to turn its 15-year-old store into a prototype for a new concept. The aim is to attract new target groups through a higher-quality appearance.

Largest XXXLutz store in Austria reopened

The largest XXXLutz furniture store in Austria has been reopened after a long period of total renovation. EUR 11 million was invested in the 36,000 square metre XXXL flagship store in Brunn am Gebirge near Vienna. "The new XXXLutz is the new flagship store of the XXXLutz Group. In the new XXXLutz furniture store, the latest trends and findings from all over Europe are taken up and shown bundled in a XXXL furniture store", says company spokesman Mag. Thomas Saliger.

Bolia: three new stores in Germany

With the opening of three new shops in Germany, the furnishing company Bolia continues its international expansion. In Germany, Bolia already has 17 locations. These will now be joined by stores in Lübeck, Münster (November 2022) and Augsburg. "With the opening of these three new shops, Bolia now has a total of 81 shops across Europe. Germany is our strongest market," says Camilla Kallehauge Møller, PR & Communication Manager at Bolia.

Rezas strengthens its team in Europe

The Danish rug company Rezas is strengthening its team in Europe. Jeremy Nichols has been appointed country manager in the UK. His task is to develop the market for the company. Nichols has many years of experience and knowledge in the rug industry, most recently working for Asiatic Carpets.

In Sweden, Morgan Persson takes over from Dan Sturesson, who is retiring. Persson comes from the rug retailer Matt-Tema and has and knows the Swedish retail sector accordingly well.

Otto Group records slight decline in revenues

The Otto Group is drawing up a "mixed interim balance sheet" after the first half of the financial year 2022/23. Against the backdrop of the difficult macroeconomic environment, in particular inflation further exacerbated by the war in Ukraine and the decline in demand, a press release states, the group of companies recorded a decline in revenues of 5.6 % worldwide on a comparable basis, reported -1.8 %. The international trading and services group, which was able to increase its total turnover strongly to 16.1 billion EUR in the last financial year, shows a varied development in the different business segments.

Ikea reports sales increase despite crises

The furniture retail giant Ikea was able to increase its turnover in 2022 despite Corona, the Ukraine war and inflation. According to the report, revenues climbed 5.6% year-on-year to EUR 39.5 billion in the past financial year. This has now been announced by Ikea's parent company, the Ingka Group. According to the group, growth was achieved in most markets. In addition, it had succeeded in increasing the availability of products by accelerating the omnichannel transformation.