The Swedish furniture giant Ikea was founded in 1943 in Älmhult in Småland by the entrepreneur Ingvar Kamprad. Over the years, the company has grown considerably and is now present in 62 countries across 460 department stores.
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Ikea’s owner: Prices are being lowered
Earlier this week, the Swedish furniture giant Ikea announced that several large price reductions will be implemented.
In an interview with American CNBC have Tolga Öncühead of retail at Inkga Group, majority owner of Ikea, said it is an opportunity for the company to invest in pricing rather than profitability.
“We do it in every market where we operate,” he said at the time.
According to the site Today’s PS majority owner Ingka Group invested over eleven billion kroner in price reductions in Ikea. The price reductions will take place in all the company’s markets as expenses for transport and raw materials decrease.
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Tolga Öncü global retail manager at Ikea’s largest owner, Ingka Group. Photo: Claudio Bresciani / TT
In another email News24 answers Eleftheria CromlidouCountry Commercial Manager at Ikea Sweden, that the price reduction has already started in Sweden.
“More than a thousand Ikea products have already received a new lower price when Ikea Sweden invested heavily in lowering the prices of several best sellers. It is the second major price reduction that will be made in 2024 and more than 2,500 products will receive a new lower price during the financial year”.
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Elefteria Cromlidou, Country Commercial Manager at Ikea Sweden. Photo: Press image Ikea The goods Ikea lowers the prices on
Overall, it is about 25 percent of Ikea’s range that is included in the new price reduction.
But the question is which products it could conceivably be about. According to Cromlidou, it is among others the wardrobe Pax, the bed frame Malm and the desk Micke that are being adjusted in price.
“We have the same price in all our department stores and on IKEA.se. We obviously hope that it will be appreciated by our customers,” she writes to Nyheter24.
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Ikea’s Pax wardrobe is one of the products that will receive a lower price. Photo: Stella pictures