Rent to own furniture isn’t exactly a new idea. But IKEA dipping into the leasing market is. The Swedish retailer that’s brought us decades’ worth of inexpensive, but supremely stylish, pieces recently announced its plans to start renting furniture.
Okay, okay. Before you break out your stash of little hexagonal wrenches, hold on just a moment. IKEA’s initial renting plans focus on the business market…in Switzerland. The retailer will test the lease idea, starting with office furniture and possibly moving on to rent-able kitchens.
So why is IKEA getting in on the leasing market? The idea comes from a commitment to sustainability. Inter IKEA CEO Torbjorn Loof told the Financial Times, “When that leasing period is over, you hand it back and you might lease something else.” Loof also added, “And instead of throwing those away, we refurbish them a little and we could sell them, prolonging the lifecycle of the products.”
Along with the new test leasing program, Loof also reported that IKEA is thinking about creating a spare parts business. That means you could repair older furniture models (that IKEA no longer carries in stores) instead of replacing them.
As of now there is no information when or if IKEA’s leasing program will make its way stateside, but we’re crossing our fingers it’s soon.
—Erica Loop
Featured Photo: Courtesy of IKEA
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