IKEA Philippines books P6.4B revenues in first year of operations

Photo from: GMA News Online

By GMA News

Ikano Retail, the franchisee that brought Swedish furniture chain IKEA to the Philippines, booked P6.4 billion in revenues nearly a year since it opened in the country in November last year.

In a statement, Ikano Retail said the amount of turnover was booked as of August 31, 2022.

The company opened IKEA Philippines, located in Pasay City, on November 25, 2021

IKEA’s Pasay store is the brand’s largest in the world.

Apart from the Philippines, Ikano Retail is also IKEA’s franchisee in Mexico, Singapore, Malaysia, and Thailand.

The company posted €1.01 billion or P60.1 billion in revenues across its stores, up 41.2% year-on-year.

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