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Ikea has announced it is set to open a new ‘Hus of FRAKTA’ pop-up on London’s Oxford street on the 28th November, as it prepares for its flagship store launch next year.
The pop-up is dedicated to “one of the most iconic symbols” of the IKEA brand, the blue FRAKTA bag.
Meaning ‘to freight’ in Swedish, the FRAKTA bag was originally designed over three decades ago to help customers carry their purchases. It has since been reimagined by iconic designers including Zandra Rhodes and Marimekko along the way.
Matt Gould, IKEA London City Store Manager, said: “As we prepare for our Oxford Street city store opening next year, we’re excited to showcase the unique offerings we’ll bring to this iconic location. When we open our doors, customers will discover well-designed, functional home furnishing products at prices that make them accessible to as many people as possible.
“There’s no better product to demonstrate this commitment than our FRAKTA bag with its small, 75p price tag. A staple in our range for over 30 years, and in so many households, we wanted to pay tribute to this household favourite, and bring IKEA a little closer to our customers before next spring’s opening.”
Ikea is set to open its new Flagship store in the former Topshop unit on Oxford Street in Spring 2025. The site will span three floors, with a total area of 82,000 square feet (7,600 sqm) and will feature over 6,000 products on display.
The news comes as Inter Ikea, owner of the Swedish furniture brand, reported higher profits despite a decline in revenues during the year that ended on 31 August 2024.
In the retail segment, revenues for the group were down 8.9% to €26.5bn (£21.9bn), compared with €29bn (£24bn) in FY23. Meanwhile, operating profit slightly increased to €2.3bn (£1.9bn), up from €2.2bn (£1.8bn).
The company attributed the results to price reductions across all 63 markets by an average of 10%, which encouraged customers to “buy more”. In turn, an uplift in sales volumes became clear during the second half of the year when lower prices came into effect. Overall, sales in volumes have not grown compared with FY23.
