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IKEA India reported annual revenue of INR 1,860.8 crore for FY24-25, a 6% rise from the previous year, driven by strong online sales, growing B2B orders and steady restaurant operations. Online revenue grew 34%, while the B2B segment expanded 20% and now contributes 19% of total sales. Food operations added about 10%, serving over 2.2 million meals. IKEA highlighted its focus on affordability, offering many products priced below INR 1,000. The retailer also expanded its network with a new Delhi city store and a Bengaluru Plan & Order Point, now reaching over 90% of urban households. It plans more small-format stores and a fresh investment round to support future growth.
IKEA India recorded a 6% increase in its annual revenue for FY24-25, reaching INR 1,860.8 crore. The company did not reveal its net profit or loss figures for the year. In the previous fiscal year, it had reported a revenue of INR 1,752.7 crore and a net loss of INR 1,303 crore. The company's growth this year was supported by strong online sales, rising B2B orders and stable restaurant operations, reflecting a steady recovery in India's home-furnishing market. Advertisement
Online sales rose 34% during the year, making it one of IKEA India's strongest-performing segments. The B2B division also grew by 20% and now accounts for around 19% of the company's total revenue. The food and restaurant division continued to play a key role, contributing about 10% of sales and serving more than 2.2 million meals during the year.
Furniture remained the largest sales category. To appeal to cost-conscious consumers, IKEA said it offers over 50 furniture products priced below INR 1,000 and more than 750 home-furnishing items under INR 200. The company's focus remains on affordability, accessibility and sustainable design to reach a broader customer base in India's urban markets.
The retailer expanded its network during the year by opening a new city store in West Delhi and a Plan & Order Point in Bengaluru. These additions build on its existing large-format outlets in Hyderabad, Navi Mumbai and Bengaluru. With these locations and its growing online presence, IKEA now reaches over 90% of India's urban households through its omni-channel network.
In its next phase of expansion, IKEA plans to launch three to four smaller city-format stores within the next ten months. The company has already utilised its initial investment of INR 10,500 crore in India and is preparing to announce a larger second investment round to support future growth and store rollouts.
Its parent company, Ingka Group, posted revenue of EUR 41.5 billion in FY24-25, marking a slight decline of about 0.9% from the previous year, but its profit rose to EUR 1.4 billion from EUR 0.8 billion earlier. India remains one of its key growth markets. IKEA currently exports goods worth about EUR 300 million annually from India to the European Union. The company is closely monitoring the progress of the India-EU Free Trade Agreement, which could make Indian exports more competitive through reduced tariffs.
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