IKEA is a multinational furniture retail company that offers home furniture, accessories, and decor. IKEA stands for Ingvar Kamprad, Elmtaryd, and Agunnaryd and is headquartered in the Netherlands. JYSK means Jutlandic. It is an international furniture retailer and is headquartered in Denmark. Is JYSK owned by IKEA?
IKEA does not own JYSK. Instead, they both are competitors. The former gets controlled by the INGKA Holding B.V., and the latter by the Lars Larsen Group. This article helps us compare the two and understand the differences and similarities.
IKEA Vs. JYSK
IKEA and JYSK both specialize in making decorative items and furniture. JYSK is a cheaper version of IKEA, which means that it is similar to IKEA, but sells the products at lower rates. IKEA manufactures the products, whereas JYSK buys most of the products from third parties.
The following are the criteria to compare JYSK and IKEA:
Founders and Year Of Establishment
JYSK was founded in 1979 by Lars Larsen in Aarhus.
IKEA was founded in 1943 by Ingvar Kamprad in Sweden.
Product Delivery
JYSK does not deliver to islands that have no bridges. The Canadian branch of the company offers delivery for the products through third-party delivery services. Customers in different countries can order online and get a free delivery according to certain conditions.
IKEA uses the standard carrier and delivers the products at the doorstep. IKEA takes more time to move the products due to the technical issues and the effect of coronavirus on the supply chain.
Bookcase
The bookcase offered by JYSK is called Danny. It costs between $46.52 and $62.03. Thus, it is 15% cheaper than the Billy bookcase. It is more similar to the bookcase offered by IKEA. It also has the name of a male.
The bookcase offered by IKEA is called Billy. It costs between $30.03 and $532.41 and can easily get customized. It has been around for more periods and is more popular.
Employee Reviews
JYSK has lower ratings than IKEA as per the overall employee reviews. IKEA employees find the work-life balance, culture, management, career growth, job security, payment, benefits, and management more favorable than JYSK employees.
Customer Reviews
In the case of JYSK, some customers get happy with the lower prices and delivery services, whereas most customers get disappointed with the delayed delivery and packaging.
In the case of IKEA, most customers get happy with the quality, popularity, product replacement, and constant updates related to delivery. However, some customers get a delayed delivery, a few faulty products, and poor customer service.
Product Price
Not every product offered by JYSK is cheap, but most are. The product price ranges from $12.99 to $1,399.99. It sells products related to the dining room, storage, office, bathroom, homeware, bedroom, outlet, curtains, blinds, and more.
The product price ranges from $1.30 to $39,970.99. It sells products for decoration, bathroom, storage, kitchen, home electronics, plants, food and beverages, laundry, outdoor products, and more.
Product Quality
Though JYSK gets most of its products from the third-parties, it performs quality checks when they arrive at the warehouse. The purchasers can also check for the quality. JYSK’s product quality is not as good as IKEA’s.
IKEA’s product quality was better till a few years ago. Its quality is said to deteriorate with the passing years. Some products are up to the mark, while some are not. However, it offers a wide range of products.
Revenue
In 2019, the revenue of JYSK Group was raised to $ 4.59 billion. In 2020, it was $54.2 million.
In 2019, the revenue of IKEA was $4642.12 crores, and it increased to $1.5 billion in 2020 despite the pandemic.
Countries They Operate In
JYSK consists of more than 3,000 stores in the world. It is spread across 50 countries with approximately 22,000 employees.
IKEA consists of 423 stores in 52 countries across the globe with around 16,000 employees.
Salaries
In JYSK, the highest salary gets offered to the communications department. The average salary ranges from $59,000 to $160,000 per annum as per the department.
In IKEA, the highest salary gets offered to the communications department like JYSK. The average salary per year ranges from $93,000 to $160,000.
Conclusion
JYSK is not owned by IKEA. JYSK is owned by Lars Larsen Group, and IKEA is owned by INGKA Holding. It gets said that the former sells products similar to the latter at low prices. But, it does not get applied to every product. Customers that require long-lasting furniture might choose IKEA. JYSK continues to grow, but it is not as popular as IKEA.
Frequently Asked Questions
What Are The Major Competitors Of IKEA?
Answer:
Some key competitors of IKEA are American Woodmark, Amazon, Walmart, Wayfair, Target, and Sears.
How Is IKEA Different From Its Competitors?
Answer:
IKEA believes in cost-effectiveness. It aims at offering affordable furniture and increasing the product variety. This company offers exclusive flat-pack furniture and uses technology for sales and marketing.
What Are The Major Competitors Of JYSK?
Answer:
Some key competitors of JYSK are Furniture Village, Badcock Home Furniture, Haverty Furniture Companies, ScS, The Longest Stay, and more.
