Ikea to open its first entirely secondhand store in Sweden

DUBLIN (PRNewswire) -- ResearchAndMarkets.com published a new article on the furniture industry "Later this Year Ikea Will Open Its First Entirely Second Hand Store in Sweden"

Photo: Ikea Philippines Newsroom

Ikea has announced that it will buy back used furniture from customers in 27 countries as part of its efforts to become more environmentally friendly.

Ikea is attempting to build a circular business model in which its materials and products are resold or recycled.

The company is investing more than 3.2bn on sustainability measures to become fully carbon neutral by 2030.

Other experiments include textile recycling and trialing an option to lease office desks and chairs to business customers in Switzerland. The buy back initiative will launch as part of the retailer's Black Friday event.

Customers who sell unwanted used furniture will receive a voucher towards the purchase of new items. Items which are as new could be worth as much as 50% of the original price, while well used pieces will get vouchers worth 30%.

The second hand items will be put on sale in stores and anything that cannot be sold will be recycled. As of next year, Ikea intends to have a dedicated section in every store where people can buy repaired or refurbished furniture.

Later this year the retailer will also open its first entirely second hand store in Sweden. ResearchAndMarkets.com is the world's leading source for international market research reports and market data.

SOURCES: Research and Markets; PRNewswire