Ikea pushes back opening date for major new Oxford Street store in central London

EDITORIAL USE ONLY A view of the largest FRAKTA bag at the IKEA Oxford Street city store in London, that is currently under renovation. Picture date: Thursday August 24, 2023.
A giant Ikea bag at the Oxford Street city store Credit: PA

Ikea has pushed back the opening date for its new Oxford Street store to next year as it revealed new details about the planned outlet. It came as the Swedish retail giant unveiled a 128ft (39m) by 62ft (19m) version of its signature blue Frakta carrier bag covering the scaffolding of the site. Work on the Oxford Street store, which was previously home to Topshop’s flagship London site, started last year. Ikea originally said it would open in autumn this year but has now said it hopes it will open by autumn 2024. Ingka Investment, the investment arm of the retail group, bought the Grade II listed building at 214 Oxford Street after Topshop owner Arcadia fell into administration. The renovation project at the site is creating a new 82,000 square feet store covering three floors, along with four floors of office space. The new store, offering around 6,000 different products, will include a showroom, market hall, and a Swedish deli serving Ikea’s famous meatballs.

The store at Oxford Circus is currently being renovated Credit: PA++

Peter Jelkeby, chief executive and chief sustainability officer of Ikea UK, said: “We’re incredibly excited to be bringing Ikea to the heart of London’s vibrant retail scene on Oxford Street, which is a major milestone in our continued expansion plans across the capital. “By having a presence at one of the most iconic shopping destinations in the world, we’re taking a significant step forward in our ongoing journey to make it easier to shop with Ikea – whenever, wherever and however customers choose.” Ingka Investments managing director Peter van der Poel said: “When refurbishing this over 100-year-old historic landmark, it’s important for us as an investor to treat the building with care and to preserve its characteristics and atmosphere. “At the same time, we want to upgrade it to today’s standards with the best possible sustainability credentials. “To ensure all of this, the extensive refurbishment will take more time than initially anticipated and Ikea Oxford Street city store is now expected to open in 2024.”

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