Anticipating post-Brexit changes in market conditions, Swedish furniture giant IKEA has revealed it is considering producing more of the products sold in Britain in Britain.
Presently only a small fraction of IKEA products sold in the UK are made in Britain — the vast majority are made abroad, with 60 per cent in Europe. With the fall in the pound since the Brexit vote it has become more cost-effective for the United Kingdom to export, rather than import goods — and seeking to make the most of this situation the Swedish company is considering increasing manufacturing in Britain.
The store already produces a small number of items including sofas and mattresses in the United Kingdom.
The Guardian reports the remarks of IKEA UK boss Gillian Drakeford, who told the paper: “We have a number of sofa suppliers in the UK we work with today and we are looking at what more products could we source in the UK… We believe we can double market share here. We’ve been here for 30 years and will be here for the future”.
IKEA announced earlier this month that it was to create 1,300 new jobs in the United Kingdom as it expanded in the country, with plans to open new, smaller stores in Sheffield, Exeter and Greenwich and a UK call centre.
The self-assembly furniture company presently controls some eight per cent of the United Kingdom home furniture market.
Follow Oliver Lane on Facebook, Twitter: Follow @Oliver_Lane or e-mail: olane[at]breitbart.com