Ikea founder Ingvar Kamprad had a hard time remembering numbers—giving way to the brand’s famously difficult-to-pronounce products—but one doesn’t become the world’s biggest furniture business without them. In 2025, Ikea, which now has over 500 stores across 63 countries and territories, reported global retail sales of over €44.6 billion (around $52.6 billion). The brand has created an in-store experience centered around vast showrooms, competitive prices, and, yes, Swedish meatballs. Now, it’s reassembling its strategy around three main elements: new store rollouts, investment in e-commerce, and dynamic partnerships. A smorgasbord of revenue streams If you ask Rob Olson, interim CEO of Ikea US, Ikea is not a furniture brand but rather a “concept company.” This is perhaps one explanation for the success of the business famous for its giant blue warehouses, but how does that translate to an e-commerce environment? Olson said he is trying to make Ikea’s online operation feel like the showroom bedrooms and hallways customers are already familiar with. “If you were to walk into a room set, [you could] find your sofa along with your best TV unit and a Billy bookcase off to the side to complete your solution. We need to be able to do that [on] the web as well,” Olson said. One of the ways he and his team are making this happen is by implementing AI tools that allow customers to imagine what their room could look like after an Ikea glow-up. “You can take a photo of your living room, and then you can erase what you have in there, [and] put in a new sofa, etcetera,” Olson said. Ikea is also pursuing partnerships and collaborations to boost growth, including with TaskRabbit (for at-home furniture assembly), Disney (for pop-up shops), and Best Buy (for in-store crossovers). “[It’s] about how to take the customer experience to the next level,” Olson said. Keep reading for expert insight on Ikea’s growth motion.—BS |