Ikea achieved a turnover of 536 million kuna in one year

IKEA Croatia reported on Tuesday that in its first year of operations it achieved a turnover of 535.9 million kuna or 70.5 million euros, announcing plans to launch online sales in 2016.

In the first year of operations in the Croatian market, we achieved a turnover of 535.9 million kuna, which is 15 percent higher than expected. Of that, the store itself generated 508 million, while the restaurant and bistro accounted for 27.8 million kuna – emphasized Stefan Vanoverbeke, director of Ikea Croatia, presenting the company’s business results today.

Vanoverbeke, who is also the regional director of Ikea South East Europe (SEE), stated that in 2016 they intend to launch online sales in our market, adding that they are considering the possibility of expanding in Croatia through innovative retail concepts. He also announced additional investments in the Zagreb site, as well as investments in the region, in Ljubljana and Serbia.

He boasted that 2 million visitors to the store, of which nearly 70 percent are from Zagreb and its surroundings, purchased 11 million pieces of furniture.

– Two-thirds of customers are women, and Croatian customers prefer white color and modern furniture style – he stated, adding that Ikea Croatia employs 299 workers who, through various benefits and loyalty programs, effectively receive 13.5 salaries annually. They have a long-standing cooperation with the domestic supplier Tvin, while their business relationship with the company Kircek is somewhat newer.

Vanoverbeke did not disclose the company’s earnings data as they have no business obligation to do so since they are not listed on the stock exchange, but he emphasized that globally last year they had about 3 billion euros in profit, of which 90 percent was reinvested in the company.

Ikea Croatia earned 116 thousand kuna just from recycling waste last year, and Vanoverbeke highlighted that they pay attention to responsible business practices, emphasizing that their concept called democratic design is based on five pillars: form, function, quality, sustainability, and the lowest possible price.