IKEA India reports Rs 1,860 crore revenue in FY25 as online sales grow 34%

New Delhi: Furniture and home-furnishing retailer IKEA India reported a 6% increase in sales, reaching Rs 1,860.8 crore for the financial year ending August 2025, according to its Swedish parent entity Ingka Group.

The group, which follows a September–August financial cycle, announced a 0.9% decline in global revenue to €41.5 billion. IKEA India’s earnings before interest, tax, depreciation and amortisation (EBITDA), excluding fixed costs, rose by 12% during the same period, the company said in a statement.

“Our share of online sales grew by 34%, and our entry into the North market through online and new format stores across Delhi and Bengaluru has been truly rewarding,” said IKEA India’s Chief Financial Officer, Murali Iyer.

The company reported that 110 million customers visited IKEA India across its physical stores and online platforms during the period. “IKEA for Business contributed 19% to the total sales, growing 20% year-on-year, while food continued to be both a strong visitation and revenue driver at 10%,” Iyer added.

IKEA India Chief Executive Officer Patrik Antoni said the company’s goal “is to turn profitable within the next two years”. According to Antoni, India’s home-furnishing market is expected to reach USD 48 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.7%.

“At IKEA, we see a long-term opportunity to contribute to this growth by making home furnishing more affordable, accessible, and sustainable for the many people,” he said.

As per IKEA India’s latest annual report filed with the Registrar of Companies, for the financial year ending March 31 2024 (under Indian accounting standards), the company reported a widened loss of Rs 1,299.4 crore, despite a 4.5% increase in revenue to Rs 1,809.8 crore.

During FY25, IKEA expanded its presence in North India with online deliveries, the opening of a city store in West Delhi, and the launch of a Plan and Order Point in Bengaluru.

IKEA currently offers over 6,500 home-furnishing products in India, including more than 50 small furniture items priced under Rs 1,000 and over 750 home décor products under Rs 200. Food continues to be a core part of the company’s offering, accounting for nearly 10% of its total business.

IKEA India said it served more than 2.2 million food tickets in FY25, with close to 1 million visitors dining in its restaurants. “The much-loved chicken meatballs remained the top seller with nearly 200,000 portions served,” the company said.

IKEA has also adapted its menu to local tastes, offering items such as vada pav in Mumbai, bisibele bhath in Bengaluru, and biryani in Hyderabad, alongside seasonal and festive menus.

Since beginning retail operations in India in 2018, IKEA has opened large-format stores in Hyderabad, Navi Mumbai and Bengaluru, two city stores in Worli and West Delhi, and a Plan and Order Point in Bengaluru. The company also operates distribution centres in Pune and Gurugram to support its growing online business.