Entering the second phase of growth in the Indian market, Ikea, the Swedish furniture and home textile giant is looking for omnichannel expansion with diverse retail formats beside kicking off online operations in Delhi-NCR by the end of 2024. It also plans to increase its employee count to 10,000 from 3,000 in the coming years.
The company has completed five years of retail operations after opening its first store in Hyderabad on 9th August, 2018.
The company which sources from India for its global retail operation, is expanding its scope and looking into a big category with wood-based products here. Ikea is also celebrating 40 years of sourcing from India for its global operations. It also plans to grow local sourcing share in India in the coming years, which will help IKEA become more affordable.
Ikeas has already booked an investment of Rs. 10,500 crore in building five stores in India, apart from announcing investments in two large shopping centres in Gurugram and Noida with integrated Ikea stores. For the financial year2021- 2022, Ikea India net sales was up by 77.07 per cent to Rs. 1,076 crore.
In the second phase, Ikea is looking at a faster expansion than the first five years.
News Agency PTI quoted Susanne Pulverer, CEO- India, Ikea saying that it is now planning to expand its operations by adding more stores to its network and considering new locations such as Pune and Chennai and increasing local sourcing making products more affordable here.
“Our next growth phase in India looks very promising and full of opportunities. IKEA is committed to India and is here for the long term. We are looking at an omnichannel expansion in India with diverse retail formats to come closer to the many people in India,” she said.
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