IKEA
Annual Report Summary, FY21
United Kingdom
1st September 2021 – 31st August 2022
Introduction
IKEA was founded in 1943 and came to life as a mail order
catalogue business in Sweden.
IKEA opened their 1st ever UK store in 1987.
Now it’s a global home furnishing brand that brings affordability,
design and comfort to people all over the world. They bring inspiring
and affordable home furnishings to people with big dreams and thin
wallets.
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To create a better everyday life for the many people
-The IKEA Vision
To offer a wide range of well-designed, functional
home furnishing products at prices so low that as
many people as possible will be able to afford them
-Strategic Aim
Assets & Liabilities
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Business Results for 2021
Key Risks & Overcomes
Increased Competition
•
Affordable prices
•
Wide range of products under one roof
•
Fast shipping for online purchases
Inflation
•
Increased their prices by 10%
Lack of a Sustainable Source of Raw Materials
•
72% recycling rate
•
Buyback and resale services
Supply chain & Logistics Risks
•
Reducing climate footprint by 70%
•
Zero-emission last mile delivery