Ilva targeting UK growth
Ikea rival planning 20 superstores
Danish furniture retailer Ilva plans to open 20 superstores in the UK over the next decade, according to a report in [i]The Times[/i].
Ilva chief executive Martin Toogood is on track to open the first Ilva outlet in the UK next year, said the report. Ilva is in talks for sites in London, Newcastle, Cardiff, Leeds, Reading, Manchester and Glasgow, expecting to agree further leases in the next few weeks.
Toogood is a former chief executive of Habitat and B&Q, as well as a former director of furniture chain Heal’s.
He led the €100m acquisition of Ilva, Denmark’s second largest furniture retailer, a year ago. The deal was backed by private equity firm Advent International, which also owns UK discount chain Poundstretcher.
Toogood told [i]The Times[/i]: “We have had some difficulties getting sites because planning permission for this size is hard to get. UK property developers are also wary of taking a risk on a relatively unknown business. But we are well on the way now.
“The UK furnishing retail market is very fragmented, and we see a great opportunity to build a significant market share. I am also very familiar with the market.”
[img r]ilvaproducts.jpg[/img]Ilva’s product range is broadly similar to that of rival Ikea, which has 12 superstores in the UK.
The arrival of Ilva would further crowd an already highly competitive UK furniture market. Established players such as DFS and Courts are seeing sales squeezed not just by Ikea, but also by the growing presence in the market of retailers including Marks & Spencer, John Lewis, Argos and Next.
