IKEA To Double Its Footprint In India, Boost Local Sourcing
IKEA plans significant expansion in India by increasing local sourcing to 50% by 2030. The company aims to open new stores annually over the next five years, focusing on Delhi NCR and South India. Currently, IKEA operates three large stores with plans to accelerate growth after reaching 10-12 locations.
- Country:
- Sweden
Jesper Brodin, CEO of Ingka Group, announced that IKEA, under the Group's umbrella, is set to significantly expand its presence in India. The global furniture retailer aims to boost local sourcing from 30% to 50% by 2030, aligning with its long-term strategy.
The company plans to launch 5-6 new touchpoints annually over the next five years, Brodin revealed. Ingka Group, which controls 90% of IKEA's retail business, intends to establish both large-format stores and smaller outlets in malls and city centers.
Brodin highlighted plans to double store numbers in India within the next 12-18 months, particularly focusing on Delhi NCR with big stores planned in Noida and Gurgaon. Additionally, two major stores are set to open in South India, though specific locations remain undisclosed. IKEA has already invested Rs 10,500 crore and operates online offerings with delivery services to enhance customer accessibility.
(With inputs from agencies.)
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- Delhi NCR
- South India
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- Ingka Group
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