Latest news with #Swedish-founded
Miami Herald
17-04-2025
- Business
- Miami Herald
Iconic retailer bets big on going small with new store openings
Some of the most popular retailers were known for having warehouse-sized stores with huge aisles and product assortments one could easily spend hours browsing. Although this technique might have worked for decades, consumer and market behavior inevitably change, which has led to declining mall traffic and the closure of many stores. That's why retailers have begun following a new trend to boost their businesses. Don't miss the move: Subscribe to TheStreet's free daily newsletter Small-format stores are a driving force for creating brand awareness and targeting more markets without spending the money it would take to develop full-size stores. These concepts require lower operation, building, rent, utilities, and staffing costs and allow companies to open more locations much faster to begin making profits. Related: Popular convenience store chain closing locations This strategy also helps companies better adapt to uncertain economy, inflation, fast growth in online shopping, and evolving consumer trends. IKEA, known for having huge stores, revealed it is opening a new store in University Park, a city in Dallas, Texas, later this year. This will be the retailer's 11th store in the state and one of three announced to open soon. The other two are located in San Marcos and Rockwall. But this location is unlike IKEA's original warehouse concept. It will be a two-level, 63,000-square-foot, small-format store with 3,200 on-site items, including home goods and food. Related: Walmart makes shocking decision about its future amid uncertainty Although on-site for viewing, not all articles will be available for immediate takeaway. However, they can be ordered online, with options for free store pick-up or home delivery at a minimal fee, according to the announcement. "Our biggest competitive advantage are our IKEA stores. This is where everything comes together under one roof and where visitors can experience our brand, our solutions, and our amazing co-workers. This location will provide a relevant food offer and a curated selection of products for immediate takeaway," said IKEA U.S. Market Manager Ben Sandoval. IKEA has made strategic business moves to expand its footprint across multiple U.S. markets over the last few years. In 2023, the Swedish-founded company announced it would invest over $2.2 billion to grow its omnichannel in the U.S. over the next three years by opening new stores and strengthening its fulfillment network. This was the largest investment in nearly four decades since opening operations in the nation. "The U.S. is one of our most important markets, and we see endless opportunities to grow there and get closer to the many Americans with affordable products and services," said IKEA Head Retail at Ingka Group, Tolga Öncü, in the announcement. "More than ever before, we want to increase the density of our presence in the U.S., ramp up our fulfillment capacities and make our offer even more relevant to local customers' needs and dreams," he added. More Retail News: Starbucks CEO announces new requirement for workersStruggling children's fashion closed stores, sales droppedIconic retail chain reveals dates and places for store closures Since then, the company has opened 52 U.S. stores in various formats across 27 states as of January 2025, according to data by ScrapeHero. In Texas, IKEA currently has five full-sized locations and three "Plan and Order points," in addition to the three upcoming new locations. "At IKEA, we want to create a better everyday life for many people, and one way we can do that is by bringing IKEA close to where people live, work, socialize, and shop. That's why we're enhancing our store formats for greater convenience, making delivery more affordable, and ensuring better connectivity with our customers in their daily lives," said IKEA U.S. CEO & Chief Sustainability Officer Javier Quiñones. "The opening of IKEA Dallas - University Park is a perfect example of our strategy to develop smaller, more accessible urban store formats, bringing a more connected and accessible IKEA experience to everyone," he added. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Campaign ME
30-01-2025
- Business
- Campaign ME
Stagwell's Forsman & Bodenfors picks Justine Armour as Global CCO
Justine Armour, Global Chief Creative Officer. Forsman & Bodenfors Global creative collective Forsman & Bodernfors, a part of NASDAQ-listed global marketing and communications group Stagwell, has appointed Justine Armour as its Global Chief Creative Officer. Swedish-founded Forsman & Bodenfors recently set up its newest office in Dubai, its ninth dot on the global map as of last October. Armour will oversee the creative output across all nine offices, including at the creative collective's Dubai branch. 'The global creative industry is crying out for a truly distinctive, unique offering such as the collective at
Associated Press
29-01-2025
- Business
- Associated Press
Forsman & Bodenfors Welcomes Industry Trailblazer Justine Armour as Global Chief Creative Officer
New creative leader brings close to three decades of culture-defining experience to role LONDON, Jan. 29, 2025 /PRNewswire/ -- One of the industry's most lauded female creative leaders, Justine Armour is to join Forsman & Bodenfors, a part of the Stagwell (STGW) network, as the Swedish-founded creative collective's newly appointed Global CCO. Forsman & Bodenfors is one of the most influential creative agencies in the world. With a reputation for bold, transformative work that impacts culture, leading to iconic campaigns like 'Epic Split' for Volvo Trucks, 'Wow No Cow' for Oatly, 'Marriage Market Takeover' for SK-II and 'Visit Sweden (not Switzerland)' for Visit Sweden. As Global CCO, Justine will play an invaluable role in expanding and strengthening the collective's global creative offering across its nine offices. Justine will initially be based in New York, relocating to London later in the year. Said Armour: 'The global creative industry is crying out for a truly distinctive, unique offering like the collective at Forsman & Bodenfors. The Swedes are genuinely creative in their very DNA; from the process to the org structure, F&B approaches things in a completely counter-cultural way compared to a traditional agency. I find this invigorating, and it's no surprise that the collective has made some of my most favourite work in the world over the years. The F&B culture is designed to support and produce creativity that stands apart and transforms thoroughly, and I'm looking forward to helping bring that magic to a wider array of creative talent and clients around the world.' Most recently, Justine was a Partner and CCO at independent New York agency, FIG. Justine joined FIG from Grey New York where she was chief creative officer, the only woman to hold the position in over 105 years. Prior to Grey she built a diverse portfolio across agencies including 72andSunny, Wieden+Kennedy, Publicis Mojo and Saatchi & Saatchi. She began her career in her native Australia, at McCann Erickson Brisbane. 'Justine's outstanding creativity and track record of producing work that helps brands grow makes her the perfect partner for us - curating Forsman & Bodenfors' direction as we move into a new era' commented James Denton-Clark, the agency's recently appointed Global CEO. 'Creativity at Forsman & Bodenfors has always been about how we approach the task and the outcomes rather than outputs. Justine really gets that creativity is the process through which we can achieve these outstanding results,' Denton-Clark added. Recognised across every major global award show including Cannes Lions, D&AD, One Show, LIA's and more, Justine has previously been named to Adweek's Creative 100 list; listed by Campaign magazine as a US Female Frontier honouree and recognised as one of AdAge's Leading Women. A champion of diversity, equity and purpose, Justine has spoken at numerous events including One Club Creative Summit, SXSW and TribecaX. About Forsman & Bodenfors Founded in 1986, Forsman & Bodenfors has achieved global fame as a creative collective that transforms businesses and shifts culture. One of the most awarded agencies in the world, F&B is renowned for its uniquely flat structure, radically collaborative ways and highly creative ideas that transcend media and earn their way into culture for clients including Volvo, Oatly, H&M, LG, P&G and Therabody. The collective has grown from Swedish roots to offices around the world, including Gothenburg, Stockholm, London, Dublin, Dubai, Singapore, Shanghai, Toronto and New York. The first creative agency to be certified by the Fair Pay Workplace for gender pay equity, Forsman & Bodenfors is part of the challenger network Stagwell.
