Ikea plans to inject £1bn in London

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Las Vegas - Circa December 2016: IKEA Home Furnishings Store. Founded in Sweden, IKEA is the world's largest furniture retailer

Ikea has announced plans to inject £1bn into London over the next three years.

The news comes as the furniture store is opening its first small store in west London. The store is also the group’s first cashless store.

The country retail manager and chief sustainability officer, Peter Jelkeby, said: “Whilst London is the initial focus of our city-centre approach, our vision is to create a better everyday life for the many people,”

“All of our efforts centre on creating happy customers, and we will learn from our London approach, whilst continuing to develop plans for other city centre locations as well as the wider UK and Ireland, to bring our offer even closer.”

 “Everything we do starts with our customers. Over the next three years, we will continue to transform as we respond to their needs and dreams, today and tomorrow,” he added.