The Fourlis Group, the franchise operator of IKEA stores in Greece, Cyprus, Romania, and Bulgaria, has confirmed that a ransomware attack suffered just ahead of Black Friday in 2024 caused an estimated financial loss of €20 million (approximately ₹191 crore). The cyberattack primarily disrupted IKEA’s e-commerce and store operations between late November 2024 and February 2025.
The incident came to light on December 3, 2024, when the company acknowledged that technical difficulties affecting IKEA’s online platforms were the result of a “malicious external action.” While Fourlis also oversees operations for brands like Intersport, Foot Locker, and Holland & Barrett, it stated that IKEA was the most severely impacted division.
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According to Fourlis Group CEO Dimitris Valachis, the company suffered approximately €15 million(approximately ₹135 crore) in sales losses by December 2024, with an additional €5 million loss extending into early 2025. He further confirmed that no ransom was paid to the attackers. The company relied on external cybersecurity professionals to recover its systems and reinforce its defenses. Valachis added that multiple follow-up attacks were detected and successfully blocked. A forensic investigation concluded there was no evidence of data theft or leakage. Nevertheless, the group notified relevant data protection authorities in all four affected countries in compliance with legal obligations. “The temporary unavailability of some data was addressed quickly, and there has been no confirmation of any personal data being compromised,” the company stated.
As of now, no ransomware group has claimed responsibility for the attack. Experts suggest that either the threat actors failed to exfiltrate data or they may still be attempting to negotiate privately with the company. The IKEA ransomware attack serves as another stark reminder of the growing threat posed by cybercriminals targeting large retail and e-commerce operations, especially during peak shopping periods.