IKEA to begin renting out furniture in 30 countries

Anca Alexe 04/04/2019 | 08:25

IKEA has announced that it would expand tests allowing customers to rent furniture rather than buy it to 30 countries next year, as it aims to move away from low-cost, disposable furniture based on growing environmental concerns, Reuters reports.

“Testing out opportunities for leasing offers is one of the ways we are challenging ourselves to deliver on our transformation strategy,” said Jesper Brodin, chief executive of Ingka Group, which owns most IKEA stores. “Climate change and unsustainable consumption are among the biggest challenges we face in society.”

The move comes as younger consumers say they want to have a minimal impact on the environment, which can include renting instead of buying items ranging from clothes to cars.

The company said its new subscription-based model, which it is already testing in the Netherlands, Sweden, Switzerland and Poland, will mean that products will be reused as many times as possible before they are recycled. It had already announced that all its products would be made from renewable and recycled materials by 2030.

IKEA had global sales of EUR 39 billion in 2018. Recently, it also announced it would start opening smaller stores in city centres instead of its huge warehouse-style stores on city outskirts.