Ikea’s growth plans on track

IKEA’s net sales/revenue from operations swelled to Rs 566 crore and its total revenue stood at Rs 665.6 crore in FY20. According to Exchange4Media, The company’s net loss widened to Rs 720.1 crore from Rs 685.4 crore.

IKEA India opened its first retail store in Hyderabad in August 2018; then launched online stores in Mumbai, Hyderabad and Pune.

Recently, Ikea opened its flagship store in Navi Mumbai. It also has plans to set up two city-centre stores in Mumbai.

IKEA Singapore is opening a Planning Studio, the first in the world to provide end-to-end renovation and interior design services, along with its wide range of products. The new IKEA meeting point, a collaboration with Livspace, opens in January 2021.

The studio will enable people to plan out a new home from start to finish: design their spaces, select their home furnishings and arrange for all the contractors needed to take care of flooring, painting, electrical works or anything else needed for a complete home make-over.



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