China, Russia power record year for Ikea

A woman taking a nap in an Ikea store in China. Source: Getty Images

Significant growth in China and Russia helped Ikea reach a record in full-year sales. The Swedish furniture giant reported an 11 percent increase in full-year sales to a record 31.9 billion euros.

Revenue in China grew by almost 20 percent, while revenues in Russia rose by more than 10 percent, Ikea said in a press release.

“China and Russia are at the top,” Ikea Group Chief Executive Officer Peter Agnefjaell told Bloomberg News. “Going forward, we don’t see any really big concerns when it comes to the sales development.”

Ikea has 14 stores in Russia at the moment.

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