IKEA aims to be profitable by FY28; to open 25 small & medium stores in next 4-5 years
NEW DELHI: (Mar 6) Swedish furniture retailer IKEA, which is expanding in India through an omnichannel approach, expects its operation in the country to be profitable by the end of FY28, and plans to add 25 new small and medium format stores in the next four-five years, a top company official said.
This will be done by growing topline, opening more stores, reducing the size of fixed costs, and operating more efficiently, in addition to increasing local sourcing, IKEA India CEO Patrik Antoni said .
“We have an ambition to be profitable by the end of FY28,” he said.
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