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2021-10-26

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IKEA buys former Topshop flagship store in central London for $520 mln

IKEA, the world's biggest furniture brand, has agreed to buy the iconic former flagship store of Bri

IKEA buys former Topshop flagship store in central London for $520 mln

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Its first centrally located store in London is due to open in the coming months, in the borough of Hammersmith.</p>\n<p>\"The investment supports the transformation of Ingka Group’s retail business, bringing IKEA closer to customers,\" Ingka Investments said in a statement.</p>\n<p>Mattsson said the Oxford Street store would be IKEA's biggest inner-city format store to date.</p>\n<p>Ingka Investments and IKEA's shopping malls arm Ingka Centres are scouting for suitable centrally located properties across major cities in Europe and North America. Milano, Rome and Berlin are high on the agenda for Ingka Investments, Mattsson said.</p>\n<p>He said there had been several bidders for the Oxford Street property. 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This is a meeting place - it's one of the best spots for visitation in Europe, with amazing numbers of people passing by every week,\" Mattsson, managing director of Ingka Investment, said in an interview.\nIKEA has tweaked its strategy in recent years towards adding inner-city store formats besides its giant out-of-town warehouse stores to reflect changing shopping behaviour.\nIt opened its first inner-city full-range store in Paris in 2019. Its first centrally located store in London is due to open in the coming months, in the borough of Hammersmith.\n\"The investment supports the transformation of Ingka Group’s retail business, bringing IKEA closer to customers,\" Ingka Investments said in a statement.\nMattsson said the Oxford Street store would be IKEA's biggest inner-city format store to date.\nIngka Investments and IKEA's shopping malls arm Ingka Centres are scouting for suitable centrally located properties across major cities in Europe and North America. 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IKEA buys former Topshop flagship store in central London for $520 mln

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