The Fourlis Group, which operates IKEA stores in Greece, Cyprus, Romania, and Bulgaria, has confirmed a ransomware attack that disrupted its operations and caused losses totaling approximately ₹191 crore (€20 million).
The incident, which struck just ahead of the 2024 Black Friday shopping season, significantly impacted both online and in-store systems.
The disruption spanned from late November 2024 through February 2025. Although the company initially cited "technical difficulties" on December 3, it later confirmed these stemmed from a malicious cyberattack. While Fourlis manages other retail brands, the IKEA segment experienced the most severe consequences.
Group CEO Dimitris Valachis reported that losses amounted to nearly €15 million by the end of December 2024, with an additional €5 million in early 2025. Importantly, the company chose not to meet any ransom demands. Instead, Fourlis hired external cybersecurity specialists to rebuild systems and reinforce defenses.
Subsequent attempted intrusions were successfully blocked, and a full forensic review revealed no signs of data theft or leakage. Nonetheless, the company promptly informed relevant data protection authorities in all affected jurisdictions. “The temporary unavailability of certain data was swiftly addressed, and there is no indication that any personal data was compromised,” the company said in a statement.
No ransomware group has claimed responsibility for the attack. Cybersecurity analysts believe the attackers either failed to extract sensitive data or are negotiating privately with the company.
The incident highlights growing cybersecurity vulnerabilities in global retail, especially during peak shopping periods, and reinforces the urgent need for robust digital defenses across the sector.
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