IKEA exists to create a better everyday life for the many people and does so by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.
In recent years, IKEA has strengthened its global presence, reached more customers, and continued to invest in affordability in a rapidly changing retail environment with increasing geopolitical and economic uncertainty.
Going forward, Inter IKEA Group, together with all the 13 IKEA franchises, will focus on three common goals: Increase sales growth, significantly reduce prices, and boost visitation across customer meeting points.
“Despite many positive achievements, Inter IKEA Group has grown a bit too complex and too fragmented in a retail environment that requires simplicity and speed,” says Henrik Elm, CFO of Inter IKEA Group.
Inter IKEA Group is now taking steps to concentrate its resources to achieve its updated goals and sharper priorities, ultimately in the areas that matter most for its customers. As part of this change journey, Inter IKEA Group will reduce its global workforce by approximately 850 positions. Based on current plans, around 300 of these roles are in Sweden. The final impact will be confirmed as the process progresses, with the aim of having the new organisation in place before the end of the calendar year.
“Today, affordability is more relevant than ever. This is not new for IKEA. It is at the core of who we are. We need to focus on what matters most to customers. With clear goals and fewer priorities, a more simplified organisation will enable faster decision-making, lower costs, improving our ability to offer lower prices for customers. This will help us stay true to our vision and keep IKEA competitive for many years to come,” says Henrik Elm.
“Decisions like these are never easy, and we are handling the process with care, respect, and transparency. Guided by our IKEA culture and values”, he continues.
IKEA has a solid foundation: a clear vision and business idea, a unique value chain, an inspiring home furnishing range, strong culture and values; assets that have made IKEA one of the world’s most beloved brands.
By focusing our resources on what matters most, Inter IKEA Group and IKEA retailers will have the right pre-conditions to grow and lower prices while staying true to our vision of creating a better and more affordable everyday life for the many people.
For more information, contact: media.relations@inter.ikea.com +31 152150701.
