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-
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