Ikea, the world’s largest furniture retailer crossed Rs 400 crore in total revenue in FY 19. The company sold goods worth Rs 2 crore every day on an average in its first year of operations in the country. The company opened it maiden store in India in August last year.
Ikea, the world’s largest furniture retailer crossed Rs 400 crore in total revenue in FY 19. The company sold goods worth Rs 2 crore every day on an average in its first year of operations in the country. The company opened it maiden store in India in August last year.
Millions of visitors visited the Ikea store and the turnover of the outlet is also as per the expectations of the company
Ikea’s revenue stands as a record for any brand in the country with just one store, that too in its debut year.
The Swedish furniture giant said in its filing with the Registrar of Companies that millions of visitors visited the Ikea store and the turnover of the outlet is also as per the expectations of the company. Ikea’s revenue numbers are at par with its rival Urban Ladder and twice of PepperFry.
The company plans to open 25 stores in the country, each large enough to fit four football fields. The Foreign Investment Promotion Board (FIPB) has so far cleared the company’s Rs 10,500-crore investment plan. Ikea has received Rs 2,515 crore from its global parent so far.
