Ingka Group, the largest IKEA retailer, other IKEA franchisees and Inter IKEA Group are investing €1.2 billion to lower prices on hundreds of products across European markets, starting today.
The initiative includes popular items such as the KALLAX storage solutions, the HEMNES daybed and the POÄNG armchair.
Germany, UK and Italy see the largest reductions
In Germany, more than 1,500 products will have their prices lowered by an average of 20 percent, including the BESTÅ TV bench (down 27 percent) and IKEA 365+ kitchen products (down up to 24 percent). In the UK, prices are being reduced on hundreds of home furnishing products and accessories, including the BILLY bookcase (down 28 percent) and the TROFAST storage combination (down 24 percent). In Italy, prices on hundreds of products fall by an average of 22 percent, including KALLAX storage solutions (down up to 29 percent) and BESTÅ frames (down by an average of 26 percent). The selection of products and the size of the price cuts vary by market.
Ingka Group accepts lower margins
"Keeping prices low is our long-term commitment," said Juvencio Maeztu, CEO of Ingka Group | IKEA, framing the investment as a long-term strategy rather than a short-term campaign, even if it means accepting a lower margin. The move follows a comparable price investment in FY24, which the company says helped more people access IKEA products and contributed to increased store visits and a higher number of orders. In addition to the €1.2 billion earmarked for Europe, Ingka Group is investing a further €70 million to help offset inflationary and currency pressures in Asia and North America.
