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IKEA Southeast Asia turnover exceeds SGD 1 billion

IKEA Southeast Asia turnover exceeds SGD 1 billion
Corporate newsReports and summaries, Retail24 September 2019Last edited: 18 June 2021

Swedish home furnishing retailer growing as it meets a new generation of shoppers

SINGAPORE – Sales at our IKEA stores in Southeast Asia topped SGD 1 billion for the first time this year, reflecting healthy growth for a big-box retail business that is meeting a new generation of shoppers and creating fresh passion for home furnishing.

With more than 3,400 co-workers, we met 98 million visitors in our stores and shopping centres, operated IKEA ecommerce in all three of our markets, opened our first in-store interior design services touchpoint in Singapore and sold 113,000 BILLY bookcases – along with thousands of other affordable home furnishings that make everyday life at home a little better.

With more than 3,400 co-workers, we met 98 million visitors in our stores and shopping centres, operated IKEA e-commerce in all three of our markets, opened our first in-store interior design services touchpoint in Singapore and sold 113,000 BILLY bookcases – along with thousands of other affordable home furnishings that make everyday life at home a little better.

As one of 12 IKEA franchisees around the world, the turnover posted by our eight large, full-format IKEA stores in Southeast Asia – including two in Singapore – contribute to the total result released Wednesday by the global franchisor, Inter IKEA Group. Our financial year runs from September 1 2018 to August 31 2019.

We own and operate IKEA stores and ecommerce in three markets: Singapore, Malaysia and Thailand. When our retail sales are combined with rental income generated from our three IKEA-anchored shopping centres in the region, our total revenue reached SGD 1.21 billion – 20% more than last year.

“These results show that our IKEA stores and shopping centres have fantastic potential to grow,” said Christian Rojkjaer, Managing Director of IKEA Southeast Asia. “We make a difference to many people by making life more comfortable, more beautiful, more sustainable – at an affordable price.”

“We face increasing competition and changing customer behaviors,” he added, “but our vision to create a better everyday life for the many people is perhaps more powerful than ever. We aim to offer the best deal there is in every market and we have a wide price ladder within our range so, even in challenging times, IKEA has something for everyone no matter the size of his or her wallet.”

“Our shopping centres add to the total value by creating meeting places that are the hub of the community – and, together with IKEA, provide a great day out.”

Our new Toppen shopping centre will be anchored by IKEA Tebrau in Johor Bahru and features a rooftop with outdoor play spaces, a sports zone and a community garden. It opens November 13, 2019.

Singapore FY19 Highlights

IKEA Alexandra | IKEA Tampines

  • Distributed a second IKEA Catalogue last year and grew brand awareness and inspired Singaporeans to invest in making their bedrooms beautiful.
  • Connected with more than 1000 customers at our new interior design service touchpoint at IKEA Alexandra – a first for our IKEA stores. Collaborating with local freelancers and Livspace.com
  • Partnered with the National Environment Agency to support the drive towards zero waste:
    • committed to give away 18,000 recycling bins to new BTO homeowners
    • hosted the launch of Say YES to Waste Less campaign in our store
    • challenged students to find zero waste solutions through IKEA Singapore’s Young Designer Award

IKEA Southeast Asia FY19

  • 51.7 million visits to IKEA websites with new navigation and inspiration – up 16% from last year
  • 850,000 energy-saving LED lightbulbs sold to customers across the region
  • 353,000 IKEA orders delivered to homes in our three markets - up 38% from last year
  • 700,000 pieces of furniture assembled for our customers – three each minute!
  • 28,102 solar panels generating renewable energy from our rooftops and saving on our costs
  • 1,448 shops and kiosks for tenants in three shopping centres (including IKEA stores)
  • 42% increase IKEA for Business sales to customers who furnish and decorate everything from restaurants to apartment show suites with our products
  • 2 new stores under construction: in Philippines and Mexico, where we are also the franchisee

Our results are achieved in large part with our many business friends, non-profit partners, government authorities and many others who have supported our journey in Southeast Asia.

Learn more about the franchise system and IKEA facts & figures on the new brand platform: About.IKEA.com