November 2020: Ingka Group news

• IKEA Austria opens its first Planning Studio  
• New IKEA Shop opens in Japan 
• The BuyBack Friday campaign goes live 
• The first second-hand IKEA is now open   
• Ingka Group announces its financial report for the fiscal year 2020

IKEA Austria opens its first Planning Studio
During November, IKEA Austria opened its first Planning Studio just outside the city of Dornbirn. The Planning Studio is located in the most frequented shopping centre of the region, and it offers customers 600 m2 inspirational room settings and planning spaces with a focus on sustainable and low-cost solutions. Here the Austrian customers can get inspired, plan their dream kitchen or bedroom with highly skilled planning experts, and order their favourite IKEA products.  

New IKEA Shop open in Japan
On 30 November, IKEA Japan opened a second IKEA Shop in Tokyo, with thorough measures in place to guard against the spread of COVID-19. The new IKEA Shop in Shibuya inspires small space living in the days of the new normal where the home is more important than ever. 

At IKEA Shibuya, customers can experience the excitement of an IKEA store in the suburbs while discovering abundant solutions for living in the city centre that differ from floor to floor. Eight room-sets will provide hints for a wide range of lifestyles and family structures, reflecting the IKEA commitment to inspire customers with innovative ideas. The shop will also feature a smart-home experience area and a section for children’s furniture and toys. 

BuyBack Friday goes live
On 24 November, the Ingka Group sustainability initiative BuyBack Friday kicked off, which invites customers to sell back their unwanted IKEA furniture. The campaign runs until 3 December and helps people to live a more sustainable life at home by promoting a buyback service of old but still functional IKEA furniture, instead of sales during Black Week.  

The world’s first second-hand IKEA is now open 
On 2 November, the first second-hand IKEA store opened in Eskilstuna, Sweden. The store is located in the recycling mall ReTuna, and it is part of a global innovation project within IKEA, aiming to test and develop a circular and profitable business model for the future. Within ten years, IKEA aims to design all its products based on circular principles and made by renewable and recycled materials, at the same time as it must be easier for customers to prolong the life of their furniture and products.  

Ingka Group announces its financial report for the fiscal year 2020
On 24 November, Ingka Group released its financial report for the fiscal year 2020. The company reported a total revenue figure of EUR 37.4 billion (EUR 39.2 billion FY19) for FY20 across its three business areas, IKEA Retail, Ingka Investments and Ingka Centres. 

Despite the challenges presented by COVID-19, Ingka Group remains guided by its commitments to people and planet and has continued to accelerate investments in online and sustainability. In a year when home became even more central to the lives of the many, the company has worked hard to meet the needs of our customers. 

“This past year has tested us all, but it is testament to our values and the resilience of our co-workers that we have managed to come through in a strong financial position while also having made great strides in our business transformation. Their efforts enabled us to continue to meet our customers’ increasing needs at home, at a time when home has been more important than ever. 

“We believe it is good business to be a good business – this year has shown that it is by holding fast to our commitments to people and planet that we are most resilient. We are focusing our investments on meeting customers however and wherever they need us, as well as in our mission to be climate positive by 2030,” says Juvencio Maeztu, Deputy CEO and CFO, Ingka Group. 

Read the report here.