IKEA retailer plans 25 new India outlets over five years

Ingka Group, the largest retailer operating IKEA stores worldwide, plans to grow its carnal beingness successful India implicit the adjacent 5 years.

The Netherlands-headquartered franchisee relation aims to unfastened 25 tiny and medium-sized outlets crossed the country.

The institution is besides progressing with large-format stores being built connected the outskirts of New Delhi arsenic portion of Ikea-owned buying centre developments.

Gurugram is expected to unfastened first, followed by Noida.

The update comes arsenic Ikea opened an outlet successful Pune, marking its sixth store successful India. This follows earlier openings successful Bengaluru, Mumbai, Navi Mumbai, and New Delhi.

Ingka Group (Ikea) planetary commercialized manager Javier Quiñones said: “India is 1 of our astir important markets globally, and we are putting adjacent greater absorption connected it arsenic a spot for growth.

“The Indian location furnishing marketplace is expected to turn by 50% successful worth by 2030. We privation to play a relation successful this, portion besides learning from India and different Asian markets wherever retail is processing rapidly and wherever we are inactive a young brand.”

Ikea India CEO Patrik Antoni said: “We consciousness we person built a coagulated knowing of our customers crossed antithetic parts of the state to instrumentality a bolder leap successful the coming period.

“We tin animate much radical to marque the astir of their surviving situations – offering ideas and solutions that whitethorn beryllium caller to galore radical successful India. Expanding our web and becoming much accessible is cardinal to that.”

Ingka Group said it has invested much than €900m ($1.03bn) successful the Indian marketplace to date.

Alongside store expansion, Ikea is widening integer entree to its services successful further regions.

Most recently, online transportation has been extended successful Tamil Nadu, enabling work availability to an estimated 10 cardinal imaginable customers successful the state.

The India-based enactment sits wrong Ingka Group’s wider €5bn concern programme implicit 3 years, intended to enactment retail improvement done caller openings and upgrades to existing locations crossed astir of its 32 markets.

Ingka Group accounts for 87% of Ikea retail income and runs Ikea income channels nether franchise agreements with Inter Ikea Systems.

"IKEA retailer plans 25 caller India outlets implicit 5 years" was primitively created and published by Retail Insight Network, a GlobalData owned brand.

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