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IKEA is essentially a bank, as a friend explained to me. They pay suppliers late and meanwhile get paid for selling the furniture made from the supplied parts.
by jll29 5y ago
IKEA is essentially a bank, as a friend explained to me. They pay suppliers late and meanwhile get paid for selling the furniture made from the supplied parts.
Personally I'm a big fan of their simple designs and some of the style, and a regular buyer of book shelves.
- gerikson 5y agoIKEA has a bank in Sweden - Ikano Bank. It handles my branded car credit card, among a lot of other things.
- lozenge 5y agoDon't they teach in business school to pay suppliers late? That's universal of any company with enough size (buying power) to get away with it. https://www.thegrocer.co.uk/suppliers/food-and-drink-manufacturers-taking-longer-on-payments-than-retailers/593476.article https://www.thegrocer.co.uk/suppliers/food-and-drink-manufac...
- wiredfool 5y agoThey're also a charity, so they don't pay income tax.