Ikea sofas can be underrated. My wife bought a Grönlid loveseat at a consignment store (read: it wasn't even new) for $100 and we enjoyed it for almost 9 years. No sagging or falling apart, it remained comfortable until the day we sold it or gave it away - I don't recall now.
That's a part of IKEA's appeal. Because of the consistent quality and the extensive market share, there's a lively secondary market for the furniture. At least in Europe. You simply cannot sell (or even give away) similarly priced furniture of other brands but there's demand for second hand IKEA.
Lid has more meanings though. It can also mean "inclination" or "hillside" (roughly) which makes more sense in the context. Grönlid would then be a green hillside or green slope or similar. Which sounds like a nice place to lay down and relax for a bit.
