The limited-edition Kvanting tote is a version of the classic blue Frakta bag, featuring six stripes in the colours of the most common version of the Rainbow Flag – the international symbol for gay pride.
It will be on sale in IKEA stores across America to celebrate LGBT Pride Month this June.
100 per cent of proceeds go to charity
All proceeds will go to the Human Rights Campaign Foundation, a charity within the nation's largest organisation that campaigns for equality for lesbian, gay, bisexual, transgender and queer people.
IKEA also plans to hang the Rainbow Flag outside US stores on 1 June, to further show its support for LGBT+ people across the country.
"At IKEA, our culture is centred on the value of togetherness," said Rafael Fantauzzi, diversity and inclusion manager for IKEA US.
"We believe equality is a fundamental human right and that all homes are created equal. We know everyone deserves a home you absolutely love and a workplace where you can be yourself."
"Never been more important" to show support
Pride takes place around the globe throughout June and into July, marking the anniversary of the Stonewall Riots in New York, which gave birth to the Gay Rights Liberation movement.
LGBT+ rights have been increasingly threatened since Donald Trump became US president – under his administration, trans people have been banned from serving in the military, while protections put in place to protect trans children have been removed.
"It has never been more important to commit to doing more to protect, affirm and uplift LGBTQ youth, who are at increased risk of bullying, homelessness and violence compared to their non-LGBTQ peers," said Ellen Kahn, director of the children, youth and families programme for the Human Rights Campaign Foundation.
"We are deeply grateful to the team at IKEA US for their generous commitment to LGBTQ children, youth and families, and thank them for partnering with the Human Rights Campaign Foundation."
Other products that have been released ahead of Pride Month this year include, surprisingly, a T-shirt available from Trump's online store emblazoned with the words "LGBTQ for Trump".
A support centre for LGBT+ people in Los Angeles has also just completed a major expansion.