IKEA ups sales in Romania, announces EUR 5.8 mln investments to keep prices low

IKEA registered 14.1% higher sales in Romania in the financial year 2023 (FY23) compared to the previous year, reaching a turnover of over RON 1.2 billion and more than 22 million products sold in local stores. The company also announced investments of EUR 5.8 million this year "to absorb the costs and ensure low prices."

According to the same report, the Swedish retailer saw its online sales increase by 6% YoY in Romania in the financial year 2023 (September 1, 2022 – August 31, 2023).

The strong results in the local market have also been backed by the opening of the store in Timișoara this summer, the company said.

During the same period, IKEA stores in Romania welcomed roughly 5 million visitors. At the same time, the website registered 27 million visits and over 381,000 online orders.

The retailer also said it aims to keep the prices low, budgeting investments of EUR 5.8 million "to absorb costs and ensure the lowest possible prices." From November 1, over 900 popular products will be cheaper in Romania.

IKEA has three stores in Romania, namely two in Bucharest and one in Timișoara. The first opened in Baneasa, in northern Bucharest, in 2007, followed by the second one, in the city's Theodor Pallady area, in 2019. The unit in Timișoara opened its doors in June 2023.

(Photo source: the company)