IKEA UK to buy back customers' unwanted furniture

LONDON, Oct 13 (Reuters) - The British and Irish arm of IKEA is offering to buy back unwanted IKEA furniture from customers, which it will then resell in stores as second hand, it said on Tuesday.

It said the “Buy Back” initiative, launching on Nov. 27, is part of the world’s biggest furniture retailer’s goal of becoming “a fully circular and climate positive business by 2030”.

The scheme will see customers given vouchers to spend at IKEA stores, the value of which depends on the condition of the items they are selling back.

Customers with “as new” items, with no scratches, will get 50% of the original price, “very good” items, with minor scratches, will get 40% and “well used, with several scratches, will get 30%.

IKEA said that anything that cannot be resold will be recycled.

Last week the group said it saw sales returning to growth this year after the coronavirus crisis boosted shoppers’ interest in spending more on their homes, a trend it believes is here to stay. (Reporting by James Davey, Editing by Paul Sandle)