KUALA LUMPUR (Oct 12): Ikano Retail has announced RM5 billion in turnover for its financial year 2022 (FY22), up 41.2% from the previous financial year across five markets, namely Malaysia, Singapore, Thailand, Mexico and the Philippines.

Malaysia recorded a turnover of RM1.7 billion, Singapore RM1.2 billion, Thailand RM1.3 billion, Mexico RM316 million and the Philippines RM534 million.

A press statement on Wednesday (Oct 12) attributed Ikano Retail's revenue surpassing the €1 billion (RM4.55 billion) mark for the first time to its sales growth in its five markets, the opening of two new stores and having more visitors in its last financial year.

Ikano Retail chief executive officer Christian Roejkjaer said: "After two years of retail disruptions and Covid restrictions, people made 113 million visits to our stores and shopping centres. It's clear people were looking for a great day out and turning to IKEA for home furnishing inspiration, Swedish meatballs and affordable products that make life at home a little more comfortable and sustainable."

The statement added that Ikano Retail also met 122.5 million visitors on IKEA websites across its five markets and grew its total e-commerce sales by 16% last year.

In Malaysia, Ikano Retail owns and operates an omnichannel business with four IKEA stores, namely IKEA Cheras, IKEA Damansara, IKEA Batu Kawan and IKEA Tebrau, as well as e-commerce, interior design and renovation services, and IKEA for Business, among others.

Bedroom furniture as well as storage and organisation items were IKEA Malaysia's top-earning categories, with MALM chest of drawers and the BILLY bookcase the top sellers in the country. From food storage solutions, 468,428 pieces of the IKEA 365+ series were sold. In IKEA Food, over 11.7 million pieces of curry puffs were sold.

Over the last financial year, the statement noted that Ikano Retail opened an IKEA store in the Philippines with IKEA Pasay City, as well as a second store in Mexico with IKEA Puebla. In the upcoming years, Ikano Retail will continue with its expansion in Mexico with a third store already planned.

Ikano Retail will expand its business in 2023 with the opening of IKEA Sukhumvit in Bangkok, adding to three existing IKEA stores in Thailand.