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Ikea

  • Ikea owner splashes out on £285m for solar parks across Europe

    Solar power

    The owner of Ikea has invested almost £285m across Europe with the purchase of nine solar park projects. Ingka Group has bought solar photovoltaic (PV) parks in Germany and Spain, from developer Enerparc, which have a combined capacity of 440 megawatt. “The expected production will be sufficient to cover all IKEA stores and warehouses in [...]

  • Pop-up firm Sook tops £1m sales as Instagram businesses dabble with bricks-and-mortar retail

    FUTURE OF RETAIL

    Pop-up retail company Sook has hit £1m sales, with CEO John Hoyle telling CityA.M. an “explosion” of social media brands are looking for flexible spaces.  Speaking to CityA.M., Hoyle said small businesses who use TikTok and Instagram are increasingly keen to venture into physical retail on a flexible basis.  The company has seven spaces in [...]

  • Ikea to close Tottenham store in £1bn plans to speed up home deliveries in London

    IKEA CLOSURE

    Ikea has revealed it will be shutting shop at its Tottenham store, with some 450 employees set to be impacted. However, Ikea said it has plans to retain as many individuals as possible. It is also planning to create some 600 vacancies in the capital before the store shuts. The North London store will remain open [...]

  • IKEA to inject £1bn into London over the next three years

    February 24, 2022

    IKEA is set to inject £1bn into London over the next three years, as it opens the doors to its first small store in Hammersmith. The Swedish furniture retailer, known for its large warehouse stores, is looking to branch out into city centres with a smaller, more accessible offering. The West London store, a quarter [...]

  • Ikea hikes prices by 10 per cent as supply chain woes continue

    December 30, 2021

    Ikea confirmed this morning that it has boosted the average price of products in its UK stores by 10 per cent, as supply chain issues continue to disrupt its operations.

  • Ikea price rise warning as furniture giant hit by material costs

    November 3, 2021

    Ikea’s owner has warned of spiralling profits and price hikes because of supply chain disruption. Higher raw material costs have contributed to the furniture giant forecasting its profits are set to fall for two successive years. Net profit in the year to the end of August fell 17 per cent to €1.4bn at Inter Ikea [...]

  • Ikea snaps up former Topshop Oxford St flagship for £378m

    October 26, 2021

    IKEA has bought the former Topshop flagship store for £378m on Oxford St. The 214 Oxford St store was formerly owned by Arcadia, before the demise of fashion brands Topshop and Topman.  Now, the Swedish-origin furniture giant is set to open up in autumn 2023, after the site was bought by Ingka Investments, the investment [...]

  • Ikea set to take on Topshop flagship store on Oxford Street

    September 9, 2021

    Ikea has reportedly agreed a deal to take on Topshop’s flagship store on Oxford Street for around £385m. The furniture conglomerate has also bought the 73,000 sq ft NikeTown and a 4,700 sq ft Vans shop, adjacent to the Topshop store, according to real estate publication React News. Ikea is thought to be planning a [...]

  • Covid and Brexit brew ‘perfect storm’ as Ikea stores hit by supply issues

    September 6, 2021

    Ikea has been hit by the UK’s current lorry driver shortage, as it confirmed it is struggling with supplying around 1,000 of its product lines. The shortages, including mattresses in some stores, has been ignited by both the pandemic and Brexit, the Swedish furniture giant said. “Like many retailers, we are experiencing ongoing challenges with [...]

  • Ikea shelves plan for a new Sussex store due to ‘changing shopping habits’

    July 7, 2021

    Ikea UK has said it’s scrapping planned development of a new store at the New Monks Farm site in Lancing, Sussex. The Swedish furniture giant had selected the site in 2016 and was granted planning permission in 2020 as part of a £170m regeneration plan. However, the flat-pack furniture seller has pulled the plug, owing [...]

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