Sweden’s Ikea says brand valued at €9 bn

Swedish furniture giant said it had sold its trademark to one of its own subsidiaries
AFP Mail Me
Comment E-mail Print Share
First Published: Fri, Aug 10 2012. 08 18 AM IST
A file photo of an Ikea furniture store at Anderlecht in Brussels. Photo: Yves Herman/Reuters
A file photo of an Ikea furniture store at Anderlecht in Brussels. Photo: Yves Herman/Reuters
Updated: Fri, Aug 10 2012. 04 25 PM IST
Stockholm: Swedish furniture giant Ikea said Thursday it had sold its trademark to one of its own subsidiaries for €9 billion ($11 billion), the first time the company has put a book value on the brand.
Ikea, which has a complex ownership structure, said its Liechtenstein-based Interogo Foundation had sold the brand name to subsidiary Inter Ikea Systems on 1 January 2012.
photoThe transaction was aimed at “consolidating and simplifying the group’s structure”, Inter Ikea Group’s head of communications Anders Bylund told AFP.
The move was “an internal transaction, which has no external effects”, but the trademark “now has a book value”, he said.
Bylund said external experts had evaluated the brand’s worth, and no rebate had been given even though it was an internal deal.
Interogo gave Inter Ikea Systems a capital injection of €3.6 billion to finance the transaction, and a loan of €5.4 billion, Bylund added.
Ikea is an unlisted, family-owned company founded in 1943 by Ingvar Kamprad, who at age 86 is still actively involved in the running of the business and who frequently appears on lists of the world’s richest people. AFP
Comment E-mail Print Share
First Published: Fri, Aug 10 2012. 08 18 AM IST
More Topics: Ikea | furniture | brand | valuation |
blog comments powered by Disqus
  • Wed, Nov 19 2014. 04 58 PM
  • Wed, Nov 12 2014. 05 13 PM
Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved