The UK’s third-largest grocer, Wal-Mart-owned Asda, is planning to invest £500m (US$985m) in building up its fledgling furniture activities.
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The company has been selling a small range of furniture for the past year and a half, generating turnover in the region of £2m a year. Now Asda is targeting a much larger share of the £9bn UK furniture market.
The company has launched a section on its website where George-branded sofas are selling for as little as £200, indicating that the goods will be targeted at the budget end of the furniture market. Asda is eyeing sales of £500m a year by 2012, making it a clear rival to Ikea and Argos.
In an aggressive start to the campaign, Asda is offering free delivery and assembly on the entire George furniture range.
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By GlobalData
