29 October 2022, Mumbai:
Ikea India sales went up by 77 percent in fiscal 2022. Total income went up by 73 percent. Total operating expenditure, excluding interest, depreciation, and amortization, was up 45 percent.
The company’s expansion plan and operations were impacted due to the global pandemic. However, the home furnishing retailer not only managed its operations in an effective way but also extended its support to society through its various partners for helping needy people and for minimizing the spread of the pandemic. The company also ensured the safety of its co-workers while managing its operations.
During the fiscal year 2022, Ikea continued to work on its plans for positioning, growth, and profitability of the omni-channel business in India. Ikea operates big format stores in Hyderabad, Navi Mumbai, and Bangalore. It also sells online in Mumbai, Pune, Hyderabad, Gujarat, and Bangalore.
Ikea sees India as an important market, has almost doubled sales in India over the last year and will continue to focus on reaching people with accessible, affordable, sustainable products and solutions that are relevant to life at home in India.
The company has continued to perform reasonably well and is optimistic about its future prospects. Ikea opened its first store in India in Hyderabad in 2018.
