Patrick Antoni, who took over as CEO of India in August, said the home furnishings market in India is expected to reach $48 billion by 2030, with a CAGR of 8.7%.
“At Ikea, we see a long-term opportunity to contribute to this growth by making home furnishings more affordable, accessible and sustainable for as many people as possible. As we continue to invest in our company and our people, our goal is to become profitable within the next two years while laying a solid foundation for a better everyday life for the many Indians,” Antoni said in the press release.
The company entered the online channel and North India this year.
Murali Iyer, Chief Financial Officer at Ikea India, said the share of online sales has grown by 34%, access to North through the internet and new store formats in Delhi and Bangalore have been rewarding. He said Ikea India had served nearly 110 million customers across channels in FY25. The company said the furniture line led sales for its Indian operations but did not share any revenue contribution. Ikea for Business contributed 19% and grew 20% YoY, while food contributed around 10% to sales.
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