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A cyber attack on a European operator of furniture store IKEA has revealed that a cyber attack it suffered last year has cost it tens of millions of dollars.
The Fourlis Group, which operates IKEA in Greece, Cyprus, Romania, and Bulgaria, suffered a cyber attack two days before Black Friday 2024.
Now, a release revealing Fourlis Group’s financial results showed that the cyber attack impacted its IKEA stores in Greece, Cyprus, Bulgaria, and Romania, leading to disruptions.
Fourlis Group said its systems were restored as of March 2025 but that the impact led to a €15 million (A$27 million) loss in sales.
“In late 2024, we faced a cyber security incident that temporarily disrupted operations. However, we responded swiftly and effectively, protecting data, restoring systems, and safeguarding the group’s profitability,” said the CEO of Fourlis in the press release, according to media.
According to reports, the incident was a ransomware attack. However, no group has claimed responsibility. Fourlis did confirm it did not pay a ransom.
Fourlis first disclosed the attack on 2 December 2024, revealing that its “digital and electronic systems” were impacted on 27 November.
“It is clarified that no leakage of personal data has, so far, resulted from this malicious act,” the group said in the 2024 press release.
Prior to the Fourlis Group cyber incident, IKEA suffered from a phishing cyber campaign back in 2021.
The emails were being sent from other compromised IKEA organisations and business partners, resulting in other IKEA organisations, suppliers and business partners becoming compromised by the same attack, further spreading malicious emails to persons in inter IKEA, as explained in an internal email sent to IKEA employees.
“This means that the attack can come via email from someone that you work with, from any external organisation and as a reply to an already ongoing conversation.
“It is therefore difficult to detect, for which we ask you to be extra cautious,” the IKEA internal email said.
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