Ikea reports 7.1% rise in sales as China gets cooking

Firm on track to open the first stores in India and Serbia during 2017

Firm on track to open the first stores in India and Serbia during 2017

Swedish flat pack furniture giant Ikea has seen full-year sales rise 7.1% to a record 34.2 billion euro (£28.8 billion), helped by rapid growth in China.

The world’s biggest furniture company said that 783 million customers walked through its doors over the past 12 months, with like-for-like sales rising 4.8%.

Peter Agnefjall, the group’s chief executive and president, said: “Last year’s focus on the theme ‘It starts with the food’, covering kitchen, cooking, eating, and the food-business, was a strong success and appreciated by the customers.”

Alongside China, Ikea added that Australia, Canada and Poland are all among its fastest growing markets.

Germany, Ikea’s largest market followed by the US, also showed record growth.

The firm said that it remains on track to open the first Ikea stores in India and Serbia during the coming year.

“In the coming year we will put even more effort in providing a great Ikea experience for visitors across all channels.

“These efforts are only made possible by the engaged co-workers who have, as always, done an amazing job during the year,” Mr Agnefjall added.