IKEA revenue in Singapore grows 6.5% YoY to $392m in FY2022

Workspaces and Bedroom furniture were the top earning categories.

IKEA franchisee Ikano Retail recorded a 6.5% year-on-year increase in its revenue in Singapore during the financial year 2022 ending on 31 August.

Ikano Retail currently owns and operates an omnichannel business with three IKEA stores, e-commerce, interior design and renovation services, kitchen planning studios, and its business-to-business arm, IKEA for business.

In a statement, it said Singapore accounted for 26.5 million out of the 122.5 million visits to IKEA websites in Ikano Retail markets which include Malaysia, Thailand, Mexico, and the Philippines.

The top earning categories for IKEA Singapore remained to be workspaces and bedroom furniture with the new MATCHSPEL gaming chair and the HEMNES day-bed frame with three drawers amongst the top-selling products.

Ikano added that IKEA Food also remains as one of the Lion City’s largest food businesses with customers ordering 3.7 million chicken wings and 1.7 million curry puffs, and its menu adding gourmet hotdogs and 11 plant-based dishes

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