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Ikea sales hit a record €34.2bn in the year to August 2016 as company's focus on food pays off

Caitlin Morrison
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Ikea reported another record year of sales - boosted by its focus on food in 2016 (Source: Getty)

The world just can't get enough of meatballs and flatpack furniture - and it's reflected in record sales at Ikea, which the company attributed largely to its focus on food in the last year.

The Swedish group's total sales rose to €34.2bn (£28.8bn) in the 12 months to the end of August, from €31.9bn the year before. Total sales translated into euro increased by 7.1 per cent.

The company said Germany remained its largest market, closely followed by the US, while China remains one of its fastest growing markets, followed by Australia, Canada and Poland.

“Ikea Group had another good year and welcomed 783m visits to our stores," said Peter Agnefjäll, the company's president and chief executive.

"In all of our meetings with the customers, we want to provide good quality products and inspiration for creating beautiful homes. Last year’s focus on the theme “It starts with the Food”, covering kitchen, cooking, eating, and the food business, was a strong success and appreciated by the customers."

Ikea recently launched a pop-up restaurant (with a twist) in Shoreditch, and Agnefjäll added: "“In the coming year we will put even more effort in providing a great Ikea-experience for visitors across all channels. These efforts are only made possible by the engaged co-workers who have, as always, done an amazing job during the year."

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