Ikea’s operators are betting more than a billion dollars on slashing the prices of some of its most popular products.
Ikea’s largest franchise owner, Ingka Group, said Tuesday it would invest 1.2 billion euros, or about $1.39 billion, with other Ikea franchises and the Inter Ikea Group to lower prices for consumers across Europe.
In Germany, more than 1,500 Ikea products will have their prices lowered by 20%, per the group’s press release. Customers in the UK will see prices for Ikea’s iconic Billy bookcase drop by 28%, and Italian customers will get a 29% price cut on Ikea’s modular Kallax storage units.
“The investment is not an activity or...
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