IKEA announced an investment of 34 million euros in Portugal to reduce the prices of a wide range of products, including storage and organization solutions for the home. The announcement was made at the beginning of the company's new fiscal year, on September 1. Erin Shi, Acting Country Retail Manager of IKEA Portugal, stated that the rising cost of living, housing pressure, and economic instability mean that "every euro counts," justifying the investment aimed at lowering prices.
The company also revealed that during fiscal year 2026, an average of more than 100 kitchens were sold per day in Portugal, an area that IKEA intends to continue investing in. Solutions to make better use of available space in homes will be among the priorities, with organization products intended for dwellings of different sizes.
IKEA opened a new store in Coimbra during the month of August, which became the brand's sixth store in Portugal and received more than 230 thousand visits during its first month of operation. The company confirmed that another store is planned for the current fiscal year, following the more compact format that received positive reception in Coimbra, although the location and opening date have not yet been revealed.
