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(That's Swedish
for Thanks)

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OUR YEARFY20 Annual Report

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Crisis brought out
the best in us

Never before have we had a year like this. The COVID pandemic touched our co-workers, customers and communities in unprecedented ways, large and small.

Our nine IKEA stores were closed from 46 to 73 days. Our five shopping centres operated only essential services for equally long stretches. We paused construction of stores in two new markets, delaying planned entries to Mexico and the Philippines. We faced record supply shortages, curtailed operations in restaurants and invested in new equipment to keep people safe.

So, our 2020 financial year was the toughest we have ever had.

It was also the best.

Our teams unleashed entrepreneurial spirit and pulled together like never before. We accelerated our digital developments. We served our customers when they needed us most. We exceeded many of our sustainability targets, forged strong relationships with local governments and supported thousands of vulnerable people in our communities.

Here, in our first digital annual report for IKEA Southeast Asia & Mexico, we share highlights from the last financial year. That’s the 1st September 2019 to 31st August 2020.

We have much to be proud of. And also much more to do. We will continue our journey to make IKEA accessible, affordable and sustainable so that, together, we can realise the IKEA vision: to create a better everyday life for the many people.

Christian Rojkjaer - Managing Director, IKEA Southeast Asia & Mexico

Let’s start with a look at our business today

Southeast Asia & Mexico is one among a dozen franchisees around the world, the only one owned by the Kamprad family that founded IKEA. Our nine IKEA stores offer well-designed, functional home furnishings at affordable prices. Our five Ikano Centres create meeting places that are at the hub of our communities. Today our multi-national team works in six markets with a combined population of 480 million people.

Tap each country to explore where we meet our customers today (December 2020..)

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Scroll down to see ten highlights from the year gone by

September 2019 – August 2020

We posted

turnover of

SGD 1.1 billion.

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In a year of ups and downs, COVID pushed our turnover down after more than a decade of expansion and growth.

Tough economic conditions in our Southeast Asian markets had slowed sales even before COVID arrived. Then we closed business for up to 2 1/2 months.

Our IKEA business ended the financial year with SGD 966 million in sales – down 7.4% from last year – while our shopping centres also saw a drop in rental income. The total turnover from our two business lines was SGD 1.1 billion.

We are now hard at work, leveraging all our learnings and the renewed interest in life at home to build our business for the future.

Our Turnover

IKEA Southeast Asia & Mexico

2010 - 2020 Financial Years