Ingka Investments, the investment firm of Ikea parent company Ingka Group, has acquired U.S.-based logistics tech company Locus. The purchase will provide Ikea with an AI-powered logistics management platform featuring advanced route customization, real-time tracking and smarter uses of vehicles and resources. Integrating these capabilities will help Ingka Group enhance supply chain processes such as capacity management, optimization and last-mile execution.
“Our vision is to create a better everyday life for the many, and that includes delivering products when and how customers want them,” said Parag Parekh, Global Chief Digital Officer for Ikea Retail (Ingka Group) in a statement. “This acquisition strengthens the digital capabilities required to meet rising customer expectations, while ensuring the quality and reliability Ikea is known for.”
The purchase of Locus follows another major acquisition by Ingka Investments earlier this month — a building in NYC’s SoHo that will be the location for Manhattan’s second Ikea store. In June 2023 Ingka Group also adopted technology from Made4net to power fulfillment centers and store operations worldwide, following Ingka’s acquisition of the solution provider.
Ikea also has been expanding its partnerships to offer new experiences and services to customers, including with online home services marketplace Taskrabbit to offer product assembly and with Best Buy for Ikea shop-in-shops aimed at streamlining kitchen design planning.
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No financial details of the Locus acquisition were available.
