IKEA moves into Best Buy as part of $2.2 billion U.S. expansion

Driving the news: IKEA's first "shop-in-shop" kitchen and laundry planning studios are now open inside select Best Buy stores in Florida and Texas, marking the first time IKEA products are being sold through another U.S. retailer.

• Five shops are now open in Florida and one in Texas, with four more Texas locations opening soon.
• The spaces are roughly 1,000 square feet, and IKEA staff are available to help customers design kitchens and laundry rooms while browsing Best Buy's appliances in the same visit.
• Customers can order from IKEA's full catalog for delivery or pickup —except for meatballs and food court items.

The bigger picture: IKEA's U.S. CEO Javier Quiñones tells Axios the collaboration fits into IKEA's broader expansion, which includes new small-format stores and more regional distribution hubs.

• IKEA operates 52 locations across the country — a modest footprint compared with retail giants like Walmart or Target.
• "For a market the size of the U.S., our presence is not everywhere," Quiñones says. "This is our way of getting closer to people in a much faster way."

Ikea's "Made in America" push

State of play: Quiñones said IKEA is producing more products in the U.S. — including most kitchen cabinets and mattresses — to keep prices low despite tariffs. The retailer recently confirmed it "made some necessary price adjustments due to rising costs."

• "We are extremely committed to low price," he said. "So anything that ends with an increasing price for us is painful."

What we're watching: IKEA hasn't said whether it will expand beyond the 10 pilot Best Buy locations, but Quiñones tells Axios the company will evaluate the partnership and "see what the second step looks like."