Ikea India Sees Losses Rise Amid Expansion Efforts
Ikea India, a major furniture retailer, reported increased losses of Rs 1,299.4 crore in FY24, despite a 4.5% rise in operational revenue. The company attributes the losses to investments in its omnichannel growth strategy. Sales remained solid, driven by strategic pricing strategies and expanded online presence.

- Country:
- India
Ikea India, a prominent player in the furniture retail sector, has reported a surge in losses for FY24, totaling Rs 1,299.4 crore, according to company filings. This development comes despite a 4.5% increase in revenue, reaching Rs 1,809.8 crore.
The company's financial performance highlights a 5.12% rise in total income to Rs 1,852.7 crore. Ikea India attributes the rising losses to strategic investments aimed at expanding its omnichannel presence, a venture that witnessed a commendable rise in sales without a similar increase in prices.
With expenses recording an 8.86% increase, Ikea's Indian branch continues to pursue its ambitious plan to serve 200 million people by 2025, focusing on both physical stores and e-commerce expansion.
(With inputs from agencies.)
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