News Contact Us

Ikea announces plans to buy back used furniture in recycling push

Author : Pankaj Singh | Published Date : 2020-10-15 

IKEA, the flat pack furnishings retailer of Swedish origin, has reportedly announced plans to buy back used Ikea furniture in 27 nations in a bid to become more sustainable. The company will give vouchers worth up to 50 percent of the original price, to be spent at its stores.

According to sources familiar with the knowledge of the matter, the values of these vouchers will depend on the condition of used items they are returning. Items that are in extremely good condition with zero scratches will get 50 percent of the original cost. Furniture with minor scratches and several scratches will get 40 % and 30% of the original cost respectively.

Ikea is planning to equip its store with dedicated areas where people can sell back their used furniture and find refurbished or repaired furniture. The offer applies to furniture usually without upholstery, like the Billy bookcases, stools, desks, chairs, and dining tables. They also said that anything that can’t be resold will be recycled.

The Swedish furniture giant commenced its first collection in 1948 and certain vintage products have become collectible in recent years. The company’s auction website displays a number of designs from previous decades, and few are on sale for a significant price.

Ikea has been testing out furniture reselling in Glasgow and Edinburgh for over a year. The company said it aims to become a completely circular and climate positive firm by 2030.

Earlier this month the Swedish company announced plans to open 50 stores across the world - including in the United Kingdom; in addition to the 445 stores presently run by the brand. The company’s largest franchisee said demand was increasing after lockdown as people seek to renovate their homes. The company’s figures recorded sales of €39.6 billion in the year to August.

Sources credit - https://www.bbc.com/news/business-54531619

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Pfizer rolls out vaccine; UK may 40M COVID-19 vaccine jabs by New Year

Published Date: 2020-10-20         Author: Pankaj Singh

With over 100 vaccines being developed and tested to stop the spread of COVID-19, it seems that nations worldwide are finally getting vaccine supplies to tackle the ongoing pandemic. As per the latest news, around 40 million vaccines cloud be heading to the United Kingdom in the next two and half mo... Read More

Nokia to help NASA put 4G network on the moon under lunar base mission

Published Date: 2020-10-19         Author: Pankaj Singh

Reports confirm that NASA is aiming to establish a major presence on the moon through its 2028 goal for building a lunar base, with 4G network being a part of that ambition. The U.S. space agency wants to ensure a sustainable environment for human occupation and has awarded US$370 million worth cont... Read More

Disney announces plans to focus more on its streaming platform

Published Date: 2020-10-14         Author: Pankaj Singh

American media giant, Disney has recently revealed that it will be restructuring its entertainment and media divisions. The company now intends to lay more emphasis on its streaming platform as more people shift towards digital platforms. Reportedly, Disney is planning to centralize its media bus... Read More

© 2020 Fractovia. All Rights Reserved