This is the first time that this division has seen revenue fall following more than decade of growth.
The furniture and homewares retailer saw their turnover all by 7.4 per cent to $0.bn in the last financial year. This figure is $66.20M down on their previous year profits. Like many other retailers, Ikea saw their e-commerce sales double with 525,000 orders placed online by the end of the financial year, totalling $99.30M in revenue.
Despite the group reporting a fall in their revenue, Christian Rojkajaer, Managing Director of Ikea Southeast Asia and Mexico remains positive, he comments: “This crisis brought out the best in us. The entrepreneurial spirit in our teams hit a new high, and our business developed with unparalleled speed. We were under incredible pressure and we did not always manage to meet our customers’ expectations, but most were understanding. We emerged strong and I have never been prouder of our teams and our impact in the community.”
