They chose the IKEA logo.
“We began by looking at the best parts of the exiting logo. Namely colour and bold type. We refined the type to more closely align with the original Futura Press font (avoiding Verdana at all cost). We felt this cleaner typographic treatment was more suited to the aesthetic of IKEA’s products. Similarly, by continuing to use the core brand colours we ensure that the logo remains instantly identifiable. Removing the oval was also a priority as it severely dated the logo and reduced it’s legibility at smaller scales (e.g. advertising / website etc.).”
I’m undecided on applying the wraparound treatment to the building signage because you’ll only see EA from the store entrance, but overall this is a great improvement.
Some people say that “fake” projects don’t count for much because the client isn’t involved. I disagree. They can show how much more interesting a tired-looking design can become, at the same time as promoting the skills of the designer. Nothing wrong with that.