Ikea is set to finally launch its long-awaited £450 million flagship store on Oxford Street after two postponements. This development is expected to breathe new life into the area.
London
‘s busiest shopping street.
The Swedish furniture retailer’s anticipated store will debut on Thursday in the space previously occupied by Topshop, marking three years since the company acquired the location.
The initial proposed opening date was set for fall 2023; however, renovation efforts along with repairs needed to address a leaking basement resulted in an 18-month postponement.
The furniture company had earlier disclosed that the renovation of the over 100-year-old Grade II-listed structure was taking longer than anticipated, causing two postponements of the scheduled launch date.
The expansive three-story retail space spans 62,400 square feet (5,800 square meters). It will offer approximately 6,000 items, with about 3,500 available for immediate purchase by shoppers. The store will operate every day from 10 AM till 8 PM.
The remaining items can be purchased for home delivery, click and collect, or picked up at designated lockers and various pickup locations.
This features three ‘curated shops’ developed by Londoners to ‘mirror and honor the spirit and variety of the city’s inhabitants’.
The store is
viewed by retail and council leaders as an essential component in revitalizing Oxford Street to reclaim its status as one of the globe’s leading shopping destinations.
In recent years, the region has deteriorated due to an increase in criminal activities and homelessness, leading to neglect with vacant storefronts, trash-strewn roads, and declining foot traffic—poor-quality American “candy stores” and souvenir shops being major points of concern.
In recent years, major retailers closing their doors besides Topshop include several others.
incorporated House of Fraser, Miss Selfridge, Dorothy Perkins, and Debenhams.
Issues escalated to their highest point in August 2023 when shops in the West End area faced difficulties.
compelled to drop their shutters and secure customers within
Following an appeal made on TikTok for mostly young males to participate in what was referred to as a ‘Oxford Circus JD heist’, significant numbers joined in.
However, the district gained momentum when HMV revived its former flagship outlet in November 2023, and Mayor Sir Sadiq Khan currently aims to
convert 0.7 miles of the road into a pedestrian area as part of the revitalization project even though there were warnings this might lead to issues.
It is a district plagued by crime and considered off-limits.
Ikea mentioned its ‘roomsets,’ which refer to the display areas found in each of its outlets.
display full assembled spaces
– have been developed using real individuals from London.
These encompass configurations for remote work and operating a small enterprise, motivation for homes featuring historic elements, concepts for basements lacking ample sunlight, as well as plans for balcony spaces.
For the first time globally for the company, the store will include a live studio equipped with broadcasting facilities allowing it to conduct events like cooking demonstrations.
It will also feature a Re-Shop and Re-Use area where customers can purchase pre-owned and obsolete IKEA items.
A 130-seat Swedish deli will allow visitors to dine ‘affordably’ in the city centre on dishes including hot dogs from 85p and meatballs or plantballs starting at £4.95, with takeaway options also available.
It is the second UK high street store for the company – the first opened in Hammersmith in 2022 – which it described as a ‘milestone’ in a strategy to expand its presence in city centres with smaller formats, increasing accessibility for customers.
A new downtown location in central Brighton is scheduled to open later this year.
Peter Jelkeby, who serves as both the chief executive and chief sustainability officer at IKEA UK, stated: “We remain committed to
devote our efforts to our UK expansion strategies and making significant investments
to become more accessible.
‘We are dedicated to enhancing our current store presence by concentrating on continuous innovation aimed at reaching a broader customer base. This strategy includes establishing a chain of compact, novel outlets designed for varied consumer experiences along with introducing fresh services tailored to cater to every one of our customers’ requirements—regardless of their location.’
The company referred to its new site as being at the ‘center of one of the globe’s most vibrant retail thoroughfares.’
Ingka Investments, which handles investments for the retail company, acquired the Grade II listed property located at 214 Oxford Street following the collapse of Arcadia Group, owned by Topshop.
Tolga Oncu, an Ingka retail manager, stated: ” Incorporating Oxford Street into the Ikea map is a significant milestone for our company.”
Tolga Oncu, an Ingka retail manager, stated: ” Incorporating Oxford Street into the Ikea map is a significant milestone for us.”
This outlet, situated on one of the globe’s most bustling and renowned thoroughfares, embodies our commitment to revolutionize our retail experience and make IKEA accessible to our clientele wherever they may be.
live, work, and socialise
.
‘Still moving ahead by extending our thoughtfully crafted and budget-friendly offerings to a larger audience in urban areas worldwide continues to be our strategy.’
The store’s launch is considered a vital component in rejuvenating Oxford Street, which experienced a decline in visitors during the Covid pandemic, resulting in numerous vacancies and an influx of successive American candy stores.
The mayor of London, Sadiq Khan, stated: “This is wonderful news as IKEA plans to open a new flagship outlet on Oxford Street.”
‘This represents significant endorsement for London, our economic landscape, and our initiatives aimed at revitalizing Oxford Street to realize its full potential.’
Oxford Street stands as one of the premier shopping attractions globally, renowned for its vibrant atmosphere and extensive array of stores.
eager to revitalize it.
This includes luring exceptional companies such as IKEA, which will aid in generating new employment opportunities and boosting pedestrian traffic.
We have created ambitious plans to
make Oxford Street pedestrian-only and transform it into a world-leading destination for shopping, leisure, and outdoor events
.
The consultation for these plans ends on May 2, so I urge everybody to share their thoughts.
Ikea was
Established in Sweden in 1943, the company opened its initial UK outlet in Warrington, Cheshire, in 1987, followed by its first London location in Wembley the subsequent year.
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