{
  "id": 4823460,
  "title": "Ikea cuts prices on 1,500 products in Europe",
  "url": "https://urgent.news/2026/09/01/ikea-cuts-prices-on-1-500-products-in-europe-4823460",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T07:38:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/01/ikea-cuts-prices-on-1-500-products-in-europe"
  },
  "original_language": "en",
  "account": "Ikea, the renowned furniture retailer, announced on Tuesday that it will be reducing the prices of around 1,500 products in Europe starting from September 1. The price cuts, which can go as high as 28%, are aimed at attracting customers who have been affected by the rising cost of living.\n\nThis isn't the first time Ikea has slashed its prices in recent years, even though it has resulted in a dip in the company's revenue and profit as reported in their latest earnings statement. Jakub Jankowski, the managing director of Inter Ikea Group, the main holding company of the multinational, stated that the company is committed to lowering prices for its customers in the long run.\n\nAccording to Jankowski, suppliers won't face any cost pressure due to these discounts. He also believed there is a high probability that increased sales will lead to more production by suppliers. The price reductions will result in a loss of approximately 1.2 billion euros (US$1.4 billion) for Inter Ikea Group, Ingka Group, which includes almost all Ikea franchises, and other European franchises of the retailer, Jankowski revealed.\n\nThe price cuts will affect roughly 900 products on each market, the Ingka Group mentioned. To further enhance price accessibility beyond Europe, Ingka Group plans to invest 70 million euros to counteract inflationary and currency pressures in Asia and North America. In Europe, iconic and popular Ikea items such as Billy shelving models, Kallax storage solutions, and kitchen equipment will see price reductions ranging from 15% to 28%, as stated by Juvencio Maeztu, the chief executive of Ingka Group.\n\nFollowing a rare price increase in response to the Covid pandemic, the Swedish flatpack giant has invested between two and three billion euros in price reductions by 10% since 2023.",
  "summary": "The price reductions will cost Inter Ikea Group, Ingka Group which includes almost all Ikea franchises, and the retailer's other European franchises some 1.2 billion euros.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}