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IKEA announced that these price cuts will lead to a total expense of €1.2 billion.
"These investments aren't just a one-time action or a temporary solution. Their aim is to enhance the accessibility of IKEA products when people require them the most, even if it involves reducing our profit margins," stated Juvencio Maeztu, CEO of Ingka Group, which owns and runs the majority of IKEA stores globally.
Starting September 1, there will be a 15-25% price reduction on a variety of items, including sought-after IKEA storage options, armchairs, and couches.
The range of products and the level of price discount will differ by country. In Germany, price decreases will impact over 1,500 items and average 20%, whereas in Italy, they will reduce by an average of 22%.
Ingka Group will additionally invest €70 million in price management in Asia and North America.
source: reuters.com
"These investments aren't just a one-time action or a temporary solution. Their aim is to enhance the accessibility of IKEA products when people require them the most, even if it involves reducing our profit margins," stated Juvencio Maeztu, CEO of Ingka Group, which owns and runs the majority of IKEA stores globally.
Starting September 1, there will be a 15-25% price reduction on a variety of items, including sought-after IKEA storage options, armchairs, and couches.
The range of products and the level of price discount will differ by country. In Germany, price decreases will impact over 1,500 items and average 20%, whereas in Italy, they will reduce by an average of 22%.
Ingka Group will additionally invest €70 million in price management in Asia and North America.
source: reuters.com
