Peter Jekelby, the UK head of Ikea, has endorsed the proposal to pedestrianise Oxford Street, coinciding with the opening of Ikea’s new store in the area, which faced an 18-month delay. London’s mayor, Sadiq Khan, supported this initiative as a means to revitalize the shopping district and bolster the local economy. The newly opened three-floor store aims to provide affordable home furnishings and will create over 100 jobs. Jekelby mentioned plans for further expansion in the UK, while calling for a review of business rates to better support physical retailers amid rising costs.
Peter Jekelby, the chief executive of Ikea UK, stated that the pedestrianisation of Oxford Street would improve ease of movement and enhance shopper experience, marking a significant step towards a revitalised shopping environment.
Mayor Sadiq Khan emphasized that the new Ikea store represents a strong vote of confidence in London's economy, suggesting that its presence will help rejuvenate Oxford Street and stimulate job creation.
Jekelby expressed Ikea’s ongoing commitment to the UK market despite financial challenges, advocating for stability to allow retailers to thrive amidst rising operational costs and suggested a reevaluation of business rates.
Ikea plans to expand in the UK with new stores, securing over 100 jobs in London, and aims to maintain affordability while adapting to current economic circumstances.
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