Today IKEA opened the doors of its Oxford Street store, welcoming the first visitors to its new central London location. Creating a unique shopping experience in the heart of one of the world’s most dynamic shopping streets, IKEA Oxford Street will bring together home furnishing inspiration and retail innovation, offering more than just a place to shop.
Following an extensive renovation of the Grade II listed building at 214 Oxford Street by Ingka Investments, the investment arm of Ingka Group, IKEA will span three floors of the iconic seven-storey building.
The opening marks a milestone in IKEA’s strategy to increase its presence in city centres and expand with smaller formats, increasing accessibility for customers across the UK.
Peter Jelkeby, CEO and Chief Sustainability Officer, IKEA UK, said: “Today we celebrate our new home on Oxford Street, a milestone in our journey to becoming more accessible. It will be an IKEA many know and love, with some new features exclusive to this iconic city centre store. Created in collaboration with real voices and with Londoners in mind, opening our doors is a landmark moment following a meticulous renovation and we are truly excited to share it.”
IKEA is creating 150 new jobs at the Oxford Street store, with the retailer receiving a record 3,730 applications in just five days when recruitment opened earlier this year.
Tolga Öncü, Ingka Retail Manager (COO) at IKEA Retail (Ingka Group)
“Adding Oxford Street to the IKEA map is a special moment for us. This store, on one of the busiest and most well-known streets in the world, exemplifies our ambition to innovate our retail presence and bring IKEA to where our customers live, work, and socialise. Offering our well-designed and affordable products to more people in city centres across the globe remains our way forward.”
In the UK and across the world, IKEA keeps investing in upgrading our existing stores and opening new locations to meet customers in the best way – with more than EUR 5 billion dedicated globally till FY27.
Facts about the IKEA Oxford Street city store:
- IKEA Oxford Store is a small format store with a total retail space of 5800 square metres.
- It’s our 6th store in London, and 22nd in UK.
- About 6,000 IKEA product lines are showcased in-store. Half of these, about 3,500 IKEA products, will be available for immediate take-away, and the whole range accessible to order online.
- 150 co-workers work in the store.
- The store is located in the 214 Oxford Street building, that Ingka Investments acquired in 2021. Beside the new IKEA store, the building will also host four floors of office space and three additional retail outlets.
About Ingka Group
With IKEA retail operations in 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on www.Ingka.com
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