Ikea India Loss 807 Crores

Swedish furniture and home furnishings retailer Ikea’s Indian unit widened its net loss to ₹807.5 crore in the financial year ended March 2021 from ₹720.7 crore in the previous year.

Ikea India Loss 807 Crores

During the FY 2020-21, the company’s expansion plan and operations were impacted due to the global pandemic of covid-19.

Ikea India Loss 807 Crores

Ikea opened its first store in India in Hyderabad in 2018 followed up by the Navi Mumbai store in December 2020.

Ikea India Loss 807 Crores

The spread of covid-19 in early 2020 and subsequent lockdowns as well as restrictions on mobility impacted Ikea India’s business.