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Tag: ikea

  • Ikea to open its first shopping mall in India

    Ikea to open its first shopping mall in India

    Ingka Centres, part of Ingka Group, is set to open a mixed-use development in Gurugram, Southwest of New Delhi, marking Ikea’s first shopping mall in the country.

    Construction is set to start early next year, with an investment of US$448 million. The project, with a gross building area of around 130,000sqm, is expected to generate more than 2500 jobs for the community.

    Dubbed ‘Livat’, a Swedish word that means ‘a lively happening’, the mixed-use development will house a mix of hospitality, food, and beverage, ‘edutainment’ learning spaces, alongside a wide retail offer anchored by an Ikea store.

    “We know that when it comes to retail and leisure, change is the only constant,” said Cindy Andersen, MD of Ingka Centres. “This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future.”

    “India is an exciting opportunity for us and our partners to bring new experiences to customers and to develop meeting places that bring value to communities and the planet.

    “We want to create destinations that make it easier for people to live even happier, healthier, and more sustainable lifestyles – this will be our goal at Gurugram.”

    The mall’s concept will be focused on health, sport, nature, and sustainability. It is expected to welcome more than 20 million visitors annually. The company said Livat Gurugram will reflect best practices in energy and water efficiency while delivering a seamless omnichannel experience for customers.

    “Delhi NCR will be one of our biggest and most important markets in India,” said Peter Betzel, CEO, and CSO, Ikea India.

  • Opening date released for the world’s largest Ikea in Manila

    Opening date released for the world’s largest Ikea in Manila

    The world’s largest Ikea store, Ikea Pasay City in Manila, is set to open its doors to the public this month after being delayed due to the Covid-19 pandemic.

    Ikea Pasay City also marks the chain’s first location in the Philippines. The 67,760sqm store, scheduled to open on November 25, is located next to the Mall of Asia and spans five stories.

    While two floors are dedicated to retail activities, the remaining floors are for stocks and e-commerce operations.

    The new Ikea store will house more than 8,000 home furnishing and appliance products, together with a restaurant, where customers can find the brand’s famous Swedish meatballs. Ikea Philippines’ online store launched earlier this month for delivery orders after a soft launch in September.

    The launch of Ikea Pasay City was announced in 2018 and due to open last year. However, the construction of the store was interrupted last year due to the Covid-19 pandemic.

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  • Ikea launching online marketplace for second-hand goods

    Ikea launching online marketplace for second-hand goods

    It might not be as good as picking up those meatballs on your way home, but IKEA is launching an online marketplace for Aussies to buy and sell second-hand products.

    The new ‘As-is’ scheme will be piloted, allowing their members to browse second-hand IKEA products online and reserve items they’d like to buy before then heading to the store to collect. It sounds like a real game-changer.

    According to Mellisa Hamilton, IKEA Australia’s Sustainability Manager, the company are aiming to have the marketplace ready early in 2022. It will initially be available only to members but will likely be opened up to everyone else later.

    Hamilton believed that a change in mindset in Aussie consumers was key to any success of the marketplace. “I think people will look at (used) items and (consider) maybe they’re not perfect anymore, but ask are they less valuable? Are they less useful? I think the shift of people understanding, I don’t need new all the time, and there’s nothing wrong with the item …,” she explained.

    “And this is the thing that we’ve also received from our consumer insights is that they feel to make an individual action to support the people and the planet it tends to be more expensive and at a premium,” Hamilton added.

    “But I think in terms of this action or this initiative is actually more looking at why pay full price for something new when I could get something just as functional just as beautiful.

    Maybe it’s not directly out of a box, or maybe it’s barely been used, but you could get it at a cheaper price. So I think if we’re looking at that affordability piece and how we can also impact the planet this is probably a really good action that anybody can take.”

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  • Ikea Close to You concept opens in Hong Kong

    Ikea Close to You concept opens in Hong Kong

    Home furnishing giant Ikea has launched the world’s first Ikea Close to You concept store inside the Market Place grocer in Hong Kong’s Discovery Bay.

    Spanning more than 3000sqft, Ikea Close to You houses more than 110 home furnishing products together with 120 Swedish signature gourmets ranging from meatballs, salmon, sauces to condiments.

    According to Ikea, the new concept focuses on the digital experience, offering a number of solutions such as self-pick-up lockers that support flexible pick-up time and free shipping. The store features a 2-metre-high interactive screen ‘Digital Experience for Furnishing Inspiration’ that provides 50 home-decorating inspirations and the “Swedish Cooking Interactive Screen” which provides free cooking recipes.

    The new store was opened alongside Bread Pantry at the Market Place Discovery Bay launched last Friday (October 1). Ikea Close to You is also the retailer’s first store located inside a supermarket.

    Owned by Dairy Farm Group, which has the Hong Kong master franchise for Ikea, Market Place is a high-end supermarket chain with stores opened across Singapore, Taiwan, Hong Kong and Malaysia. The chain entered Hong Kong in 2007 under the name Market Place by Jasons.

    The launch of Market Place Discovery Bay follows the openings of Market Place at Mongkok’s Langham Place and Tuen Mun’s Gold Coast and is part of the brand’s effort to expand its presence in the territory.

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  • Ikea opens bistro takeout in Singapore

    Ikea opens bistro takeout in Singapore

    IKEA Singapore has opened its new Swedish Bistro at its Tampines outlet on Sep. 9, 2021.

    Located between the level 1 front-facing entrance and exit, this outlet will feature a grab-and-go concept focused on convenience.

    IKEA Classics

    Those on the go might also want to purchase the Swedish Meatballs (six pieces for S$5) or Plant Balls (six pieces for S$5).

    Swedish Meatballs:

    Swedish Bistro IKEA Tampines

    Address: 60 Tampines North Drive 2, Singapore 528764

    Opening hours:

    Sunday to Thursday, 11am to 9:30pm

    Friday and Saturday, 11am to 11:30pm

  • Ikea expands Buy Back & Resell program as it eyes 2030 circularity goal

    Ikea expands Buy Back & Resell program as it eyes 2030 circularity goal

    Global furniture and homewares retailer Ikea has expanded its Buy Back & Resell concept into the US with a three-week trial in the Pennsylvania city of Conshohocken in suburban Philadelphia.

    Ikea piloted the concept in the UK in 2019 before launching two permanent stores in its home market Sweden last year. In Australia, a 10-day campaign last year saw more than 18,000 products returned to stores, but the initiative has not been introduced as a permanent feature yet.

    After the Ikea Conshohocken Ikea US said in a statement that it plans to roll the service out to additional select markets across the country, with the ultimate goal of making Buy Back & Resell a permanent service at all Ikea US stores in the future, without specifying a timeframe. The pilot began this week and ends on September 19.

    However the company earlier said the return and reuse strategy would help it meet its goal of becoming a circular business by 2030.

    Perhaps addressing one of the challenges of maintaining a service where it commits to buying back furniture, the company said it was offering “Ikea Family members the opportunity to sell back their gently used” furniture in exchange for store credit. It only covers fully assembled and functional Ikea furniture which the retailer hopes will provide a sustainable and affordable option for customers, especially those on tight budgets. The condition, age and functionality of products returned will be reviewed and any recalled products – along with particular categories of products such as chests of drawers – will not be accepted.

    “At Ikea, we are passionate about making sustainable living easy and affordable for the many, and want to be part of a future that’s better for both people and the planet,” says Jennifer Keesson, country sustainability manager at Ikea US. “We hope the Buy Back & Resell service inspires our customers to live a more sustainable life at home while giving their used furniture another life and a second home.”

    The company did not say what it would do with furniture returned that it believed could not be resold – consumers may have the perception that the company would recycle it on their behalf.

    Through its franchise partner Ingka Group, Ikea has 52 stores in the US.

    Ikea Australia sustainability manager Mellisa Hamilton said the success of last year’s trial proved “overwhelming demand” for the service.

    “Moving forward, we’re looking at ways to refine the service to be able to meet demand and continue to increase consumer awareness to promote and enable circularity both within our business and our customer’s life at home.”

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  • Ikea Sweden to sell sustainable energy to locals

    Ikea Sweden to sell sustainable energy to locals

    As of September this year, furniture giant Ikea will offer sustainably generated energy to Swedish households in a move to diversify its business and offer a green approach to power supply.

    The STRÖMMA offer will be made in partnership with local energy supplier Svea Solar, and will eventually brand out into other markets.

    “At Ikea, we want to become fully circular and climate positive by 2030, built on renewable energy and resources,” Ingka Group new retail business manager Jan Gardberg said in a statement.

    “We believe the future of energy is renewable and we want to make electricity from sustainable sources more accessible and affordable to all.”

    Through the STRÖMMA offer, customers that have already purchased solar panels from Ikea can connect the panels to an app to track their own generation, and sell back electricity they don’t use themselves, while customers without such panels can still use the app to track their energy usage.

    “We’re a home furnishing company, and we want to make it easier for people to live a more sustainable life at home,” Ikea Sweden sales manager Bojan Stupar said.

    “Today we offer smart and energy-efficient products and services that contribute to prolonging the life of products, reducing waste, saving water, and eating more healthily, as well as reducing electricity usage, [and] providing solar and wind power at a low price to more people feels like the natural next step on our sustainability journey.”

    Ikea started selling solar panels in Australia, and introduced over 30 global initiatives to reduce its carbon footprint and help customers lead more eco-friendly lives, in the past year.

  • Ikea’s malls arm branches out into housing with new China centre

    Ikea’s malls arm branches out into housing with new China centre

    Ikea’s shopping malls business – one of the world’s largest – has kicked off the sales process for some 500 flats at its first-ever mixed-use retail and residential development, in Changsha, southern China.

    Cindy Andersen, MD at Ingka Centres since February, said in an interview she expected flat buyers to start moving in during March next year, after the adjacent mall opened last month following pandemic-related delays.

    Ingka Centres has 45 malls, or “meeting places” as it calls them following a strategy tweak a few years ago, anchored by Ikea furniture stores across Europe and Russia, and in China where they are branded Livat.

    The company has shifted towards more entertainment and social spaces in its developments as consumers, in China in particular, increasingly shop online, visiting malls more for food or movies. Andersen told Reuters a third of tenants at the Livat Changsha mall were retailers currently.

    With housing, it is testing yet another income leg, banking on the rapid urbanization in China. Livat Changsha’s residential building, besides the flats, also sport common living and workspaces designed and decorated in co-operation with Ikea that it hopes will appeal to people working from home.

    Andersen said the Livat Changsha mall – Ingka Centres’ fifth in China and its first development across markets to also offer housing – had around 95-per-cent occupancy in July, with tenants ranging from restaurants and sport and entertainment outlets to around 350 retailers including Decathlon and Uniqlo across 130,000sqm.

    “I think we had a really relevant strategy even before the pandemic, and now the trends we saw already then have accelerated.”

    The atrium of the Livat shopping centre in Changsha, China. Image: Ingka Centres.

    She said that Ingka Centres, along with parent Ikea, still has great belief in a future of physical shopping, including in China, as long as it is tailored to consumer expectations around services, omnichannel and convenience.

    “There is a need to include retail experiences in the meeting places also going forward. We have a lot of confidence this is a need for the consumer also in China,” she said, adding that Ingka Centres had added 50 international retail brands to its portfolio in China over the past year.

    “I think it very much comes down to the fundamental needs of people. We like to be with other people and we like to be in environments where we can experience, where we can touch and feel,” she said.

    Across markets, Ingka Centres is trying various omnichannel models and digital services at its malls with tests ranging from local e-commerce platforms to live shopping events.

    At Livat Changsha – where it has invested more than US$616.8 million to date – the focus initially will be on a loyalty scheme app that is connected to Chinese social media WeChat, sporting services such as virtual reality centre navigation, online restaurant queuing and cinema ticket purchases.

    Andersen said the program currently has around 2.3 million members in China, compared with 1.5 billion in May last year.

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  • Ikea starts building shopping mall in India

    Ikea starts building shopping mall in India

    Ikea’s arm Ingka Centers is to launch India’s first Ikea mixed-use destination in the outskirts of Delhi, Noida.

    The plan was announced after the retailer secured a 47,833sqm plot of land in Noida, Uttar Pradesh. The project will cost about US$760 million and take seven years to complete. The Ikea mega mall will feature two multi-storied buildings of more than 20 floors with separate blocks for retail, office, and hospitality.

    The project will provide more job opportunities, support infrastructure development, and the growth of the organized retail and home furnishings sector in the region.

    “Delhi NCR is one of our most important markets in India and we will reach the many people with our beautiful, affordable, well designed, and sustainable home furnishing products,” said Peter Betzel, CEO at Ikea India.

    “This next step in our expansion is in line with Ikea’s ambition to [reach] 100 million people in India in the coming years.”

    Entering India in 2018 with its first outlet in Hyderabad, Ikea opened its second store in the country last December in Navi Mumbai.

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  • Amazon’s Vietnamese partner reports surge in profit

    Amazon’s Vietnamese partner reports surge in profit

    Textile company Gilimex said its net profits almost doubled in 2020 thanks to a number of high-value contracts with international retailers.

    It reported record revenues of VND3.45 trillion ($150 million), up 36 percent from 2019, and net profits of VND308 billion for the year.

    Gilimex’s main products are handbags and backpacks.

    It tied up with Amazon, the world’s largest online retailer, in 2016 and seen average revenues grow at 20 percent a year since then.

    Its other large foreign partner is Swedish furniture retail giant IKEA with whom it has eight long-term contracts worth $16.2 million.

    The firm also develops new products for Dutch baby products maker Bugaboo and Puma, the German multinational that manufactures athletic and casual footwear, apparel and accessories.

  • Ikea teams with Asus to launch furniture for gamers

    Ikea teams with Asus to launch furniture for gamers

    KEA announced a partnership with ASUS Republic of Gamers in September 2020, and the fruits of that team-up are now appearing, right on schedule.

    As expected there is a wave of products releasing for customers in China, ahead of an expected launch for Western markets in around October of this year.

    The range includes everything from gaming chairs and adjustable desks, the sort of furniture you might expect, alongside even more gaming-focused accessories like headset stands, a ring light for streamers, a CPU stand with its own castors, and more.

    It’s an impressive list of options, but the most exciting part of it, as was expected, are the prices, which trend low. The MATCHSPEL gaming chair, for example, is set at ¥999.00, which converts to around £112, a price that beggars belief compared to what some on the market are asking for.

    Best PS5 games 2021: Amazing PlayStation 5 titles to pick up By Max Freeman-Mills: 5 February 2021

    There are desks specifically aimed at gamers that cost even less, and that’s before you get to the likes of the accessories, which are all slapped with low price tags too.

    That makes the line an exciting prospect, given that we know that it’s planned for a more global expansion later this year. You can view the whole range on Ikea’s Chinese website here, for now, to get a sense of what it looks like, although we don’t know which exact products will make the leap, or whether they all will.

  • Ikea opens stand-alone planning studio in Singapore

    Ikea opens stand-alone planning studio in Singapore

    IKEA has launched the first-of-its-kind planning studio powered by Singapore-based interior design and renovation platform, Livspace. IKEA and Livspace have provided consultation to hundreds of homeowners in Singapore since the partnership started at the end of 2019. The new studio at Jurong Point shopping mall will offer customers a brand-new shopping experience with end-to-end personalized home interior design, planning, and renovation services.

    At around 100 square meters, the Planning studio will feature a specialist showroom modeled after a 3-room HDB flat and virtual inspirations through SmartPhotos by the Livspace Platform. Designed like an IKEA showroom, the studio has been specially optimized and curated to address the challenges of living in a small space. These range from space-saving kitchens to living room smart storage solutions and fitted wardrobes. Décor and furnishings will be refreshed periodically throughout the year so customers can receive new inspirations to start transforming their own homes.

    The Livspace SmartPhotos is a great visualization and planning tool to help homeowners envision and budget for their new home designs. It is also the first time the SmartPhoto experience is being introduced to Singapore. Customers will be able to scan any room in the store using QR codes and virtually change the products and room style to suit their preferences and budget. As the products are being updated in SmartPhotos, the room price will also be updated in real-time. This new tool will be integrated into the planning and renovation journey offered to customers, and they can get to experience it in the coming weeks.

    “We would like to help more Singaporeans realize their dream homes,” said Jaap Doornbos, IKEA Retail Director, Singapore & Philippines. “The new IKEA Planning Studio isn’t just another IKEA store – it’s the future of home planning that caters to every homeowner and wallet size. Together with Livspace, we hope to provide a more accessible and personalized experience with technology, which will allow customers to achieve their dream home. With the current economic situation, this is especially important, and we see this as a big step in improving the traditional interior design planning process in Singapore”.

    “We are delighted to partner with a world-class brand in IKEA and power its first Planning Studio in Singapore with the Livspace platform. As a technology-first company, we are looking to revolutionize the way interior design and renovations are done in Singapore and this launch is a crucial first step. Now, personalized and trusted interior design services across price points will be available at consumers’ fingertips,” said Ravindran Shanmugam, Country Head, Livspace (Singapore). The IKEA Planning Studio will offer move-in ready packages, starting from just $9,900, that provide renovation and construction services as well as IKEA furniture and furnishings. Customers can make a complimentary one-to-one virtual or in-person appointments with expert designers.

    Any furniture purchases made at the Planning Studio as part of the Interior Design and Renovation package will also be delivered to homes for added convenience.

    From 13 to 26 January, customers can also take advantage of opening specials*:

    • First 500 walk-in customers will get a complimentary IKEA Jurong Point Planning Studio goodie bag

    • Spin the sure-win spin-the-wheel for prizes, when they spend above $10,000 on the renovation with Livspace On top of which, IKEA Family members gets 5% off their total bill when renovating their home with Livspace. This offer lasts till 31 December 2021 and can be redeemed at the outlet by presenting a physical or digital IKEA Family card.

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  • Temasek Bolsters Sustainability with Ikea Hire

    Temasek Bolsters Sustainability with Ikea Hire

    Temasek names a new former head of sustainability from Ikea to replace Robin Hu, who will we leaving the role by the end of 2020.

    Temasek’s current sustainability head Hu will have some of his key function’s taken over by ex-Ikea chief sustainability officer Steve Howard, according to an effective as of January 1 next year.

    Hu will remain with Temasek and the senior leadership while transitioning to another role.

    He first joined the state investor in December 2016 and is currently a senior managing director. During his time with Temasek, his role encompassed the oversight of public affairs, institutional relations, foundations and endowments, and its sustainability policy alongside directorship at some of the firm’s portfolio companies.

    Previously, he was the CEO of Hong Kong’s South China Morning Post under the former owner and Malaysian billionaire Robert Kuok.

    At Temasek, its sustainability goals include a strong focus on carbon emissions where it targets halving in its portfolio by 2030 and full reduction by 2050. This target covers only the firm’s own operations and purchased energy while excluding the broader effects of the related supply chain.

    At Ikea, Howard spearheaded its sustainability efforts until 2017 and is also the co-founder of We Mean Business, a unit of firms and advocacy groups aiming to cut corporate carbon emissions.

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  • Ikea sunsetting catalogue after 70 years

    Ikea sunsetting catalogue after 70 years

    After almost 70 years, Swedish furniture giant Ikea is scrapping its iconic catalog.

    The company will no longer produce print and digital versions of the book, it announced Monday.

    It’s been touted as the most widely-distributed publication in the world, and more copies of the catalog are printed each year than the Bible or Quran.

    Ikea’s decision to scrap the catalog didn’t come lightly. The company collected extensive customer feedback, it said, and decided to focus on its online store instead.

    Ikea has seen a significant shift in consumer behavior thanks to the digital boom. In 2019, its online retail sales grew 45% worldwide.

    Fewer people are using the catalog because of changing media consumption, it added.

    The company will release a book of home furnishing inspiration “as tribute” in fall 2021.

    “For 70 years it has been one of our most unique and iconic products, which has inspired billions of people across the world,” Konrad Grüss, managing director of the chain’s global franchisor Inter IKEA Systems, said.

    Ikea described the decision as “emotional but rational.”

    Perhaps surprisingly, Ikea didn’t didn’t explicitly cite its environmental credentials as a reason for the decision.

    The company has increasingly focused on sustainability as it works towards its goal of becoming carbon positive by 2030, and in November it started buying back and reselling UK customers’ used furniture to counter the mass consumption associated with Black Friday.

    This is the second time Ikea’s catalog has hit the headlines this fall.

    In October, Ikea reissued some editions of its 2021 catalog because it included an image that it admitted could reinforce racist stereotypes

    The first 68-page Ikea catalog was released in 1951 by the furniture chain’s founder Ingvar Kamprad, eight years after the company launched.

    Its print run of 285,000 copies was distributed across southern Sweden

    Fast-forward to 2016, and the catalog reached its highest print run. Around 200 million copies were distributed in 69 different versions, 32 languages, and more than 50 markets. Since 2000, Ikea has launched a full digital version of the catalog, too.

    The catalog as we now know it is a massive affair for Ikea, taking around nine months to design each year. It shoots the images in its own studios in Älmhult, Sweden, which is one of the biggest photo studios in Europe.

    The Ikea Museum, which is located in the same city, includes an exhibition on the catalog’s history.

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  • Ikea in talks to buy city-centre retail property in big European cities

    Ikea in talks to buy city-centre retail property in big European cities

    IKEA’s Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said.

    The investment arm of Ingka Group, which owns most IKEA stores, is pushing into the real estate market as part of IKEA’s shift towards big city-centres from out-of-town. So far, such locations are leased.

    Scouting for city-centre retail property more or less ready to house IKEA stores across Europe’s main cities, Ingka Investments’ first deal was in Paris’ Rue de Rivoli.

    “We have ongoing discussions in big European cities,” Ingka Investments Managing Director Krister Mattsson said in an interview. “It takes time to buy properties, but there is a lot in the pipeline,” he told Reuters.

    Inkga Investments is pushing ahead with the new strategy despite the wider retail market uncertainty caused by the pandemic.

    Despite the exodus from high streets prompted by the coronavirus, price tags for the kind of properties that Ingka Investments is hunting for have not tumbled, Mattsson said.

    “For good locations in big cities, which is what we are looking at to meet our customers, there is always demand,” he said. “We haven’t seen any big impact yet on prices for such properties – which one may have expected when the crisis came.”

    Besides good space for the IKEA store, buildings could also include other retail, office and even residential space, and Ingka Group would take over as landlord.

    The decision to build up a real estate portfolio stems from privately held IKEA’s long-standing strategy not to rent. Acquisitions, as IKEA’s other investments, are self financed.

    Separately, Ingka Group’s malls arm Ingka Centres is also shopping for inner-city property, albeit targeting bigger developments aimed at housing IKEA-store anchored malls. Scouting Europe, Asia and the United States, it has so far made two such acquisitions.

    Ingka Investments’ portfolios also include renewable energy and forests.

    Starting in 2017 with the purchase of handyman services platform TaskRabbit, Ingka Investments also buys into startups that may help IKEA speed up its digital transformation, improve its services, and become more sustainable. The latest addition is a stake in logistics solutions and delivery platform Mover Systems.

    Ingka Investments has to date made 23 such minority stake investments totalling more than 200 million euros ($238 million), it said. It has not disclosed the price tag for TaskRabbit and two more full acquisitions.

    Ingka Group is a franchisee to brand owner Inter IKEA.