IKEA has reduced prices

According to a Reuters report, IKEA is still sticking to the price cut. The furniture industry giant is trying to keep its prices low despite the fact that deliveries have become significantly more expensive due to the Red Sea attacks by the Yemeni forces.

Jepser Brodin, CEO of Ingka Group, which owns most IKEA stores, said that their priority is still to invest in lower prices. Ahead of the annual meeting of the World Economic Forum, Brodin also said that “this is not the year to optimize their profits”.

This is a year where we have to try to operate more narrowly for profit in order to support people

– added Brodin, who also set a goal for the company to expand in China as well.