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Our business is operating in five markets today, and we have plans to expand.
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We broke the
EUR 1 billion mark in
turnover for the first time.
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We reached a record for visits and grew our IKEA Family.
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We developed our capabilities to meet customers wherever they are, whenever they want.
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We opened two new IKEA stores in the Philippines and Mexico.
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We are testing ideas and taking action to make our business more sustainable.
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We performed beyond expectations in a year of extreme uncertainty and have the desire to do more with the diversity of ideas, the bold ambition and the togetherness of our caring co-workers.
A special Tack! (that’s Swedish for ‘thanks’) to our customers, partners, government agencies and many others in our communities for being part of our breakthrough year.
Ikano Retail is one of 12 IKEA franchisees. Through our omnichannel experience we create a better everyday life in Singapore, Malaysia, Thailand, Mexico and the Philippines, offering well-designed, functional home furnishing products at prices so low that as many people as possible are able to afford them. Our Ikano Centres, anchored by IKEA, are retail destinations at the heart of our communities. We also invest in real estate to develop places for people to live, work and play. We are the only franchisee owned by the family of Ingvar Kamprad, who founded IKEA in 1943. Learn more about our business at group.ikano
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Our Turnover
Ikano Retail
2010 - 2022 Financial Years
Here's how each of our countries contributed to our total turnover:
FY22 Turnover by Country
September 2021 to August 2022
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Customers
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Tack
Caring. Agile. Cost-conscious. Entrepreneurial. Our co-workers pulled together like family during the last challenging year. All of us drew on the strengths of our ‘small company’ spirit to reach some big milestones in six countries. We attracted a record 113 million visits to our IKEA stores and Ikano Centres. We exceeded EUR 1 billion in our total turnover for the first time. We opened the world’s largest IKEA store in the Philippines and another in Mexico. Our team grew to more than 5,000 co-workers.
We continued to be there for the many people who looked to IKEA for affordable solutions to make life at home a little better and, with our Ikano Centres, created vibrant meeting places for millions of families as our countries emerged from COVID.
Together, we raced to keep the shelves stocked as supply disruptions at times left our stores with as little as 50% of our range. We fought to keep prices low for customers as our costs were impacted by inflation. We developed new omnichannel touchpoints to make it even easier for customers to connect with us. We also became even more conscious of climate change, set measurable sustainability targets and took a leap in our journey to help ensure the planet remains a healthy, inclusive home for us all.
This report shares stories and snapshots from our last financial year, September 2021 to August 2022. We send our biggest thanks to all our co-workers, customers, suppliers, joint-venture partners and the many others who helped power us through trying times. We look forward to your continued friendship as we meet the challenges ahead and continue to develop our business.
Kind regards,
Christian Rojkjaer
Ikano Retail CEO
Business Map
Ikano Pte Ltd (Registration No. 198004112M)
