Ikea Singapore to Take in S$341 Million Revenue for Fiscal 2019

Image by THAM YUAN YUAN from Pixabay

Swedish Home furnishing retailer IKEA, saw a turnover of $341 million in the fiscal year 2019 ending Aug 31. 

When it comes to the whole South East Asian region, there was a 20% climb in the revenue that moved to$1.21 billion in FY19 from the earlier $1 billion. 

The said revenue combines the company’s retail sales as well as the rental income that they generate from Ikea-Anchored spaces in these regions. 

The 3 places where Ikea operates it’s stores and e-commerce across the South-East Asian regions are-

  • Singapore
  • Malaysia
  • Thailand

In Singapore, it services more than a 1000 customers everyday in it’s two full-format stores, one in Alexandra and other in Tampines. 

As per the article by The Strait Times, During the fiscal year, the company also opened an in-store interior design service touchpoint at the Alexandra outlet, collaborating with Singapore freelancers and Livspace.com.

“We face increasing competition and changing customer behaviours, but our vision to create a better everyday life for many people is more powerful than ever.”

Christian Rojkjaer, Managing Director of Ikea South-east Asia

Written by

Cheryl Toh

Last updated on

September 27th 2019, 2:47 pm

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