Ikea delays opening of new Oxford Street store as customers set to wait a year

24 August 2023 , 13:04

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The scaffolding over the site of Oxford Street's new Ikea store has been covered in one of the furniture giant's famous bags (Image: PA Wire)

Ikea has announced the opening of its new Oxford Street store has been delayed until next year, as the furniture giant revealed fresh details about the much-anticipated outlet.

The announcement was made as Ikea unveiled an eye-catching 128ft (39m) by 62ft (19m) version of its iconic blue Frakta carrier bag over the scaffolding of the construction site.

The Oxford Street store, taking over the former location of Topshop's flagship London site, began its transformation last year. Initially set to open in autumn this year, Ikea now anticipates welcoming customers by autumn 2024.

The extensive renovation project is set to birth a sprawling 82,000 square feet store spanning three floors, with an additional four floors dedicated to office space. The upcoming store promises a diverse range of approximately 6,000 products, featuring a showroom, market hall, and a Swedish deli serving Ikea's famous meatballs.

Peter Jelkeby, chief executive and chief sustainability officer of Ikea UK, said: "We're incredibly excited to be bringing Ikea to the heart of London's vibrant retail scene on Oxford Street, which is a major milestone in our continued expansion plans across the capital."

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The new store will include a showroom, market hall, and a deli serving Ikea's famous meatballs (PA Wire)

In a bold move to make shopping more accessible, Ikea is establishing a presence at one of the world's most iconic shopping destinations. "By having a presence at one of the most iconic shopping destinations in the world, we're taking a significant step forward in our ongoing journey to make it easier to shop with Ikea whenever, wherever and however customers choose," the company stated.

Peter van der Poel, Managing Director of Ingka Investments, spoke about the delicate balance of modernizing the over 100 year old historic landmark while preserving its unique characteristics. He said: "When refurbishing this over 100 year old historic landmark, it's important for us as an investor to treat the building with care and to preserve its characteristics and atmosphere."

Van der Poel also emphasized their commitment to sustainability, stating, "At the same time, we want to upgrade it to today's standards with the best possible sustainability credentials."

However, due to the extensive refurbishment required, the opening of the Ikea Oxford Street city store has been delayed. Van der Poel concluded, "To ensure all of this, the extensive refurbishment will take more time than initially anticipated and Ikea Oxford Street city store is now expected to open in 2024."

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PA Deputy Business Editor