The global furniture giant claimed to have modernized. Then COVID-19 struck.
Ikea has long known the shortcomings of its business. The world’s largest furniture manufacturer kept prices low by selling flat-packed goods out of its giant stores, all while it was slow to respond to the digital revolution of apps and e-commerce. In January, Jesper Brodin, CEO of Ikea’s parent company, Ingka Group, acknowledged as much and told Fast Company that Ikea was “investing like never before” in its digital platforms and home delivery.
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