Ikea was founded in 1943 and has been the world’s largest furniture retailer since 2008, with over 420 distinctive stores in more than 50 countries. It has a successful business model focused on offering stylish flat-pack furniture at affordable prices. There is a strong emphasis on containing costs across all parts of the business. In the UK, there are 27 Ikea stores, but expansion has now shifted from its big-box format to smaller store formats – urban, pick-up and pop-up. It is also aiming to further develop its consumer product range, particularly around smart home, and increase the automation of production and supply chain processes. Standard Ikea stores follow a one-way layout, leading customers counter-clockwise around the entirety of the store. Each Ikea store also features a restaurant serving traditional Swedish food. The furniture powerhouse was slow to launch its online offering but has focused on its ecommerce arm more as part of a transformation plan since 2018. This has included considerable investment in its click-and-collect services.
From bringing the duvet to the UK to supporting the launch of Retail Week, British designer, retailer and restaurateur Sir Terence Conran changed the way people lived.
Ikea has partnered with sustainability charity The Ellen MacArthur Foundation in a bid to reduce product waste and ultimately become a circular business by 2030.
Ikea has confirmed that it will reopen 19 of its stores in England and Northern Ireland in line with government guidance from June 1.
Furniture Village and DFS are both planning to reopen stores in time for the bank holiday weekend.
Ikea has acquired augmented reality (AR) start-up Geomagical Labs in a bid to drive shoppers to purchase more big-ticket items without needing to visit a store.
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