Ikea projects revenue growth of up to 85% by 2020
Retail Editor 2 -- Home Textiles Today, October 24, 2012
Stockholm - Ikea expects its revenue to grow by as much as 85% and its store count to grow by 200 units worldwide by 2020, according to a report by Nasdaq.com.
Revenue for the Sweden-based home furnishings giant is expect to increase to 45 billion euro to 50 billion euro by 2020, up from 26.9 billion euro for the most recent fiscal year ended Aug. 31, the report said. Ikea's store count is expected to increase to 500 stores.
The new estimates were in a sustainability report the company released Tuesday, Nasdaq reported. It also noted Ikea will have 200,000 employees by 2020 (up from 131,000 today) and about 1.5 billion annual visitors (up from about 655 million).