UK Ikea boss backs calls to pedestrianise Oxford Street as flagship store opens
The UK boss of Ikea has backed calls to pedestrianise Oxford Street as the world's largest furniture retailer finally opens its delayed store in London's prime shopping destination.
The Swedish company's three-floor shop in the building that used to be Topshop's former flagship store, with a mix of meatballs, lampshades and kitchen design assistance, opens on Thursday, 18 months later than planned.
Sitting in one of the mini-room sets designed to show off Ikea's range of furnishings at the new store, Peter Jekelby, the chief executive of Ikea's UK business, said he thought a plan to pedestrianise Oxford Street, backed by London's mayor, Sadiq Khan, would be 'good for the street' and 'make it easier to move around'.
Khan said the Ikea store was 'a huge vote of confidence in London, in our economy and in our plans to rejuvenate Oxford Street' and that attracting new companies would help 'create new jobs and increase footfall'.
He said the 'bold proposals' to pedestrianise Oxford Street were subject to consultation that closes on 2 May 'so I encourage everyone to have their say'.
Jekelby added that Ikea, which will employ more than 100 people in its new London store, was committed to opening more outlets in the UK, with plans for a major new site in Brighton this summer and smaller outlets in Norwich, Chester and Harlow in Essex.
'After that we will take stock,' he said. 'There are still places and space that we could be present in.' He said Ikea was 'about affordability' and so could thrive even in a time of 'thinner wallets'.
He called on the UK government to foster stability in the UK market and not to overwhelm retailers with additional costs – after an increase in employer national insurance charges.
Jekelby said that business rates needed a rethink so they were 'more fit for purpose' and did not 'penalise certain ways of shopping' – as currently those who operate stores face higher costs from the property-based tax than rivals who operate solely online.
The bright and colourful – and largely underground – Oxford Street outlet includes a 130-seat Swedish deli, a live events space and one-to-one design services for kitchens, bedrooms and living rooms. The space is also brightened by huge animated displays of woodland scenes, buzzing bees and a wide variety of Londoners who talk about their home design choices – some of which are recreated in the store.
It will display about 6,000 Ikea products, ranging from 'Billy' bookcases to drinking glasses, and about 3,500 of those items will be available to take away on the spot, while the rest can be delivered to homes.
The store's opening is regarded by some as key to hopes for a revival of Oxford Street, which has gradually been rejuvenated after a slump in visitor numbers during the Covid pandemic, after which a number of sites sat vacant while a plethora of cheap American candy shops moved in.
In the past two years, the number of vacancies and candy shops have dropped and the street has been boosted by new openings, including HMV, which returned to the site of its original store in November 2023, and the sportswear brand Under Armour.
The seven-storey former Topshop building is also home to Nike Town, which is taking more space in some of the upper floors, an outlet for beauty specialist Space NK as well as office space.
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