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Swedish home furnishings giant IKEA is gearing up for a major expansion in India, with plans to double its number of stores and customer touchpoints across the country within the next 12 to 18 months, according to Jesper Brodin, CEO of Ingka Group, which owns and operates IKEA globally.
The aggressive growth strategy includes the opening of both large-format retail outlets and smaller stores in malls and urban centres, with a strong focus on metro areas such as Delhi NCR, where stores are set to launch in Noida and Gurgaon. Two additional large-format stores are also in the pipeline for South India, though specific locations are yet to be revealed.
At present, IKEA operates three major stores in Bengaluru, Navi Mumbai, and Hyderabad. The company has already invested ₹10,500 crore in India and aims to scale up its presence significantly, with plans to launch 5–6 new customer touchpoints every year for the next five years.
“This market is very important to us,” Brodin said. “India will be one of our fastest-growing markets over the next 20 years. We're not only increasing our physical presence, but also focusing on local sourcing and digital integration to better serve Indian customers.”
As part of its long-term strategy, IKEA plans to boost local sourcing from 30% to 50% by 2030. Currently, it works with 45 Indian suppliers, primarily in textiles and toys. The brand is also expanding its e-commerce footprint, offering 24-hour delivery services in select cities.
Known for its modern design, affordability, and functionality, IKEA is targeting a broader consumer base in India through a combination of retail formats and a stronger online presence. The expansion reflects the company’s commitment to the Indian market and its confidence in the country’s rapidly evolving retail and consumer landscape.
(Source: IANS)
