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IKEA: From Home to Lifestyle
By: Janet Kalandranis
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Part of being a successful brand includes growth. This can be accomplished in many ways — diversification, additional products/services, or even new companies under the same brand name. But in order for a brand to see success in the future, it needs to think bigger and be bigger than what it simply is today.

Enter IKEA. The home brand. The one that outfits any home, any space, at an affordable sought-after price. IKEAs are never empty; they are always packed. But IKEA also knows that it can’t ride the home furniture brand way into the future, but instead must find additional outlets for success. Lucky for IKEA, it has a model that currently works, so if it is able to replicate this in other areas, maybe future success is just a hop, skip, and jump away. IKEA has thought about its future and has begun creating a footprint that will work with other concepts. The brand is currently eating up real estate globally so it can build for the future and expand into additional markets. Long-term this is a great plan, and with a brand that has a model that customers love, replication might be the easiest way to future success.

IKEA has figured out its future. Its real estate venture is the stepping stone to building apartment complexes, student housing, and even banks. Seem a little off target? Well, not exactly. IKEA is taking its current simple, clean, solution-based brand and expanding it into areas that need those characteristics. It’s kinda genius when it’s all laid out. To the customer, IKEA provides affordability, accessibility, and sense of ease. Imagine a bank with these elements. Or an apartment complex with all of IKEA’s best ideas. Pretty sure anyone would be happy to move in.

Diversification isn’t easy. Many times, the conversation is around being brand relevant instead of it being a great idea. But with IKEA’s strong brand concept and everlasting characteristics, this idea of growth makes sense for them. It gives them a new outlet to shine within and provides customers with additional opportunities to connect with the brand. A win for IKEA and a win for the customer. How soon is move-in?

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About the Author
Janet Kalandranis is here to give you all the little brand thoughts that run through her head with a little dash of spice. Find her online here.
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