The pandemic has gone on so long and impacted our business in so many ways that we no longer call it a 'crisis' – it’s a constant. And we have learned to live with it.
Together, our 4,321 co-workers tackled one challenge after the other. While we still have a tough journey ahead, we are coming out of this pandemic with new resilience and strength. I have never been prouder of our team.
Our IKEA stores and shopping centres were closed for a record 83 days – longer even than the year before – and yet our co–workers continued to pack parcels and get products to our customers’ doors. When construction projects were closed, we worked side by side with partners to mitigate delays on our expansion plans. When the global shipping crisis pushed our stock levels to record lows, we adjusted our logistics and raced to keep pace with inquiries from customers.
We stood by tenants and ensured our meeting places remained a safe, fun day out as our communities opened up once again. And we launched new programmes to take care of our co–workers and communities.
This annual report celebrates some of the success stories from our last financial year – September 2020 to August 2021.
We opened two new IKEA stores, grew our e–commerce business, accelerated our digital journey, and welcomed 700 new co–workers.
We also refreshed our focus on sustainability and here, you can learn about the targets we have set for our business and the actions we are taking to create a positive impact on people and the planet.
We are thankful to the many loyal customers and partners who have stuck with us through this turbulent year. We look forward to continue building our relationship with you as our business and communities recover.
Towards a better future for us all.
Ikano Retail is one of 12 IKEA franchisees, creating a better everyday life for the many people in Singapore, Malaysia, Thailand, Mexico and the Philippines – with plans to open more markets in the years ahead. Our IKEA businesses offer well–designed, Swedish home and business furnishings at affordable prices. Our Ikano Centres, anchored by IKEA, are meeting places at the heart of our communities. We are the only franchisee owned by the family of Ingvar Kamprad, who founded IKEA in 1943.
Today we work in 6 markets with a combined population of 480 million people.
In a second pandemic year marred by closures, supply challenges and restrictions on retail operations in IKEA Stores and Ikano Centres, we opened new businesses and grew our total turnover in the last financial year. (That’s September 2020 to August 2021.) We are on a path to recovery from COVID impacts.
Our business in Malaysia shrunk dramatically in a year where stores and centres closed for up to 83 days. In Thailand, we also saw a decline as COVID concerns forced closure of up to 51 days.
Still, with e–commerce able to operate, two new store openings and strong growth in Singapore, we grew Ikano Retail’s combined turnover by 3.3%. Here’s a look at the performance in each of our operating markets in FY21.
21.2% to last year
13.9% to last year
3.3% to last year
Total Ikano Retail
3.3% to last year
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Ikano Pte Ltd (Registration No. 198004112M)
