Ingka Group invests in Livspace
Home design and renovation platform Livspace said IKEA's strategic partner Ingka Group has invested an undisclosed sum in the India-based company. "Ingka Investments, the investment arm of Ingka Group (Ingka Holding B.V and its controlled entities), has made a minority investment in the company. Ingka Group is a strategic partner in the IKEA franchise system, representing 90 per cent of the total IKEA retail sales through 367 stores in 30 markets including India," Livspace said in a statement. With Ingka's strong global footprint and Livspace's disruptive technology platform, the investment enables a sharing of expertise between the two companies, it added.
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