IKEA announces £1bn investment in London

Following the opening of its first small store in Hammersmith on Thursday, IKEA announced that it will invest £1 billion in London over the next three years.

The company said that the move is part of its long-term transformation to become “more convenient and accessible by bringing IKEA closer to where customers live, shop and socialise”.

IKEA is investing the money in new ways to shop – including introducing new services, city-centre stores, developing existing stores and new fulfilment and delivery capabilities.

“Everything we do starts with our customers,” said Peter Jelkeby, country retail manager and chief sustainability officer, IKEA UK & Ireland. “Over the next three years, we will continue to transform as we respond to their needs and dreams, today and tomorrow.”

Jelkeby added: “As one of the most innovative and exciting markets in the world for retail and e-commerce, we will step up our omnichannel investments in London with a simple goal: to become more customer centric, so that people can shop with us for a better, more sustainable life at home, whenever, wherever and however they choose.”

The new store, which was first announced last month, is approximately one quarter of the size of a traditional IKEA store, with 4,000 product lines on display and 1,800 available to take away on the same day. The new store is the first of its kind in the UK and the 8th globally.

The London store focusses on home accessories and soft furnishings and roomsets, while larger home furniture pieces will also be on display and can be ordered for home delivery or delivery to nearby collection points. The store is set across two floors with 4,600 sqm worth of commercial space. IKEA also said that the Hammersmith store will have ‘a free-flowing’ layout.

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