Ikea sales up 7 per cent to record $52.3b



    Sep 14, 2016

    Ikea sales up 7 per cent to record $52.3b


    SWEDEN'S Ikea, the world's biggest furniture retailer, said yesterday its fiscal full-year sales grew 7 per cent to a record 34.2 billion euros (S$52.3 billion).

    Privately held Ikea, known for its budget home furnishing and self-assembly furniture in giant out-of-town warehouse stores, has the bulk of its business in Europe.

    "China remains one of the fastest growing markets for Ikea Group, together with Australia, Canada and Poland," the company said.

    Germany remains its largest market, closely followed by the United States. Plans are on track to open the first stores

    in India and Serbia this year.

    It said that, besides 12 new stores, it opened 19 pick-up and order points in the year, and plans to further increase focus on integrating physical and digital commerce.