International companies with overseas activities have been looking to diversify or change their geographic and sectoral activities to survive the pandemic with minimal impact. The recent developments, including the covid-19 pandemic, as well as the pre-pandemic trends, have forced companies to reorganize their global supply networks.
The recent example of this is the Swedish flat-pack furniture giant IKEA. As quoted by the CFO of the company, IKEA is planning to move more production to Turkey to minimize problems with global supply chains and increased shipping costs. “The pandemic showed us the importance of diversification. We are planning to shift more production to Turkey as we faced shipment problems during the pandemic," CFO Kerim Nişel said.
Operating with 461 stores worldwide, IKEA entered the Turkish market in 2005 in Istanbul. Having actually 7 showroom across the country, the company manufactures textile, glass, ceramic and metal products.