IKEA is trying to push the ceiling

IKEA is well-known for the furniture for the budget-minded and middle-class buyers. But can the company present their goods to somewhat richer people? At least that is new management intention. IKEA Group Chief Executive Peter Agnefjall said the push was due to customers increasingly demanding more.

Customers expect us to do more (on quality). And nowadays you can’t really make products that are throwaway: when you buy a sofa table it needs to be built to last.Peter Agnefjall

IKEA, one of the world’s strongest brands, risks losing market share to new online-mainly furniture stores. Online retailers Amazon and Alibaba and fashion brands Next (NXT.L), Zara (ITX.MC) and H&M (HMb.ST) are also adding home furnishing to their offerings.

IKEA Group, which owns most IKEA stores, is on track for a 2020 sales target of 50 billion euros ($56 billion). But many associate it with disposable quality and complex self-assembly.

The author: Michel DEURINCK

Michel Deurinck, born in Brussels in 1950, started his career in the Belgian civil service, dedicating over 30 years to public service. Upon retirement, he pursued his passion for journalism. Transitioning into this new field, he quickly gained recognition for his insightful reporting on politics and culture. Deurinck's balanced and thoughtful approach to journalism has made him a respected figure in Belgian media.

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