In June, a crowd packed into Italie Deux, a Paris shopping center owned by Ikea’s real estate arm, to watch adults hurl pillows at each other in a padded ring. The event marked the French debut of the Pillow Fight Championship, a U.S.-based combat sport league. Onlookers were invited to join in, with professional fighters offering free lessons to anyone willing to jump in.
The event was sponsored by Ingka Centres, the real estate arm of the largest Ikea franchisee, Ingka Group. It’s an unusual investment for a real estate company. But it’s part of a deliberate strategy at Ingka Centres, part of Ingka Group, which is ranked No. 88 on Europe’s Fortune 500 list. The real estate group operates 38 properties, all of which include an Ikea store, across 15 markets in Europe, Asia, and the Americas. As physical retail competes with online shopping, and concerns grow over a broader loneliness epidemic, the company is betting that hosting community experiences can help its shopping centers thrive and grow.
