IKEA isn’t just for college students looking to furnish their dorm rooms on the cheap, Mike Ward, president of IKEA USA, told CNBC’s “Squawk on the Street”on Monday.
The Swedish maker of ready-to-be-assembled furniture has done well despite the sluggish housing market, the executive said, because “even in tough times we represent good value.”
While traditionally seen as a good option for college students, more people have tried IKEA, Ward said. The Swedish company competes with other furniture makers, including Ethan Allen , Furniture Brands and La-Z-Boy in the U.S.