Traditional company swallows furniture dealers: out after 13 years

Created: 10/10/2022, 4:05 p.m

By: Malin Annika Miechowski

Online shops had benefited from the corona pandemic.

This is now changing due to inflation with higher prices.

A furniture store feels this.

Germany – In times of the corona pandemic and the associated measures and restrictions, more and more consumers are using online shops and options such as Click & Collect to avoid making larger purchases in stores.

In the meantime, however, the tide has turned, as RUHR24 knows.

Home24 before the end - XXXLutz wants to buy online shop for furniture

If you can't find what you're looking for when choosing from the furniture giant Ikea from Sweden or want to save yourself the full tills, you previously had the opportunity to browse through the range at Home24.

However, the Ukraine war and inflation not only made food more expensive, but also increased the price of raw materials, such as wood and, as a result, furniture.

Expensive furniture purchases are therefore currently out of the question for many people.

Ikea competitor XXXLutz is now taking advantage of this and wants to buy up the online shop Home24.

This is reported by the

and explains that this also has economic consequences.

Home24's share prices have more than doubled with an increase of 125 percent.

The online shop Westwing, which offers a variety of furniture in addition to decoration, is also set to benefit from the planned takeover.

There, the shares have become more expensive by a fifth.

And what does that mean for consumers?

Company spokesman Thomas Saliger from XXXLutz assured

the

Accordingly, the online shop and the furniture store should remain independent companies as far as their actions are concerned (further service news for consumers at RUHR24).

Attack on furniture giant Ikea – competitor XXXLutz buys online shop

The fact that Home24 will soon belong to the Austrian furniture store does not initially sound very promising for the online shop with fewer than 1,500 employees.

But company spokesman Thomas Saliger from XXXLutz explains that the online shop should also have certain advantages.

Accordingly, there is greater support for Home24 in the areas of purchasing and logistics.

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In addition, XXXLutz has made it his goal to “enhance the future viability of the company [Home 24, ed.

Red.] in an uncertain market environment and to seize future growth opportunities based on the innovative business model".

It remains to be seen whether the online shop can save itself as a result.

Recently, the mail order company had to struggle with falling sales.

The furniture store XXXL is apparently planning to take over an online shop.

© Reinhard Kurzendörfer/ Imago

But the deal is also worthwhile for the furniture store.

Only recently, Home24 made the Butlers furnishing chain a subsidiary.

The Handelsblatt sees another advantage for XXXLutz in the takeover.

This is because the company is attacking both competitor and furniture giant Ikea at the same time.

Because the group already includes the Zurbrüggen residential centers, which are mainly located in the Ruhr area, as well as Möbel Buhl GmbH & Co.KG and other furniture stores.

IKEA in crisis?

Competitor XXXLutz makes clear announcement with takeover

The company from Sweden had only recently made a name for itself in this country.

Ikea's decision not to sell fries caused some resentment among customers.

In addition, Ikea was already struggling with bottlenecks and delivery problems during the corona pandemic.

The current crises and the lack of raw materials are also causing higher prices there.