While hundreds of people from around the state flooded into the new Ikea store in south Denver today, one major furniture retailer said he wasn’t afraid of losing market share.
Ikea, an international trendy furniture giant known for selling discounted ready-to-assemble house wares, opened its first store in Colorado today.
Jake Jabs, who owns American Furniture Warehouse, a Colorado chain of discount furniture stores, said the Ikea superstore and all of the hubbub around its opening hasn’t stirred him up enough to even sponsor a competitive sale.
Jabs said they bought a couple extra newspaper ads in the Denver Post and some discounted TV commercial time on Denver stations, but that his company isn’t doing anything different in Colorado Springs.
“Frankly, I don’t worry much about Ikea,” Jabs said. “We have a 78 percent market share in Colorado.”
There are 11 American Furniture Warehouse stores in the state and a 12th is going through pre-construction permitting on the east side of Colorado Springs. It will be the city’s second store.
The new Ikea store boasts a high-profile 415,000-square-foot footprint with frontage on I-25 near the Park Meadows Shopping Center. But Jabs said he has several stores in the state that are larger. Overall, he says he has more than 1 million square feet of showroom and warehouse in all of his locations.
He said he’s not even sure Ikea is up on the times enough to draw in buyers.
“What’s hot now is this new two-toned stuff,” he said. “And they don’t have any of that.”