The Economic Times

IKEA aims to be profitable by FY'28, to open 25 new small & medium size stores in next 4-5 years

Swedish furniture giant IKEA is set to become profitable in India by FY'28. The company plans to open 25 new stores across the country in the next four to five years. These new outlets will be smaller, ranging from 2,500 to 20,000 square feet. IKEA is expanding its presence through an omnichannel approach, combining physical stores with online services.