Ikea to open Tottenham Court Road store amid major transformation plans

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Ikea has announced plans to open a new inner-city flagship on London’s Tottenham Court Road.

As part of the furniture retailer’s new strategy to focus on city centre locations, it will move into the former Multiyork store on Tottenham Court Road this autumn.

This will mark the first store of its kind in the city, placing a focus on large scale projects like installing new kitchens or bedrooms and offering a personalised tailored service to its customers.

“We are proud that London is the first city globally to pilot this concept, as we aim to be more accessible and bring Ikea closer to many more people,” Ikea UK country retail manager Javier Quiñones said.

“Urbanisation and inner-city living are trends that continue to dominate the market. By launching this new approach and investing in our online offer and services, we are working to ensure Ikea remains affordable, convenient and sustainable, both now and in the future.”

In April, Ikea announced plans for a dramatic “transformation of our business” over the next three years to keep up with changing shopping habits.

The company’s new chief executive Jesper Brodin said Ikea would “claim city centres” by opening smaller more experimental stores aimed at a more urban audience targeting 10 global hubs including London, New York and Tokyo.

This change will feature a drive towards online sales, aiming for a full digital solution in every country and affordable home delivery, moving away from its traditional out of town big-box outlets.

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1 COMMENT

  1. For such an innovative company, IKEA seems a little slow to this party. This is something that larger brands in the United States (Target, Walmart etc) have been working on for years (and successfully).

    With the emergence of Uber and similar car services, it is much more affordable to do an “out of town” schlep to an IKEA, but with that said, there are millions of customers globally that IKEA loses out on because 1) the location of their stores in suburban regions and 2) the lack of a cohesive online strategy with affordable delivery.

    It will be interesting to see how this works out for them, finally, they seem to be moving the business in a direction that will deliver stronger growth.

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