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.


Devdiscourse News Desk | New Delhi | Updated: 30-12-2024 19:13 IST | Created: 30-12-2024 19:13 IST
Ikea India Sees Losses Rise Amid Expansion Efforts
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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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