Delhi Navi Mumbai Chennai Kitchen Cabinet Multinational IKEA Store Multinational plans to double in the Indian market within 12 to 18 months

Retail IKEA doubles in the Indian market in 12-18 months
INGPER Brodin said New Delhi’s August 20 (IANS) multinational IKEA plans to double its number of stores and customer touchpoints nationwide in the next 12 to 18 months.

The expansion will include large stores and smaller shops in shopping malls and city centers.

According to Brodin, the company is committed to expanding rapidly in India as part of its long-term strategy and plans to increase local procurement from 30% to 20%.

In addition, he revealed that he plans to open 5-6 new contact points in India each year over the next five years. IKEA intends to double the number of its stores and customer service centers.

As part of the retail expansion, IKEA has developed huge plans for the Delhi NCR area, with large stores opening in Noida and Gurgaon. Although the exact location has not been disclosed, two other large stores are planned in southern India.

IKEA currently operates three large stores in Bangalore, Navi Mumbai and Hyderabad.

The company has invested Rs 105 crore in India and has ventured into online retail, offering 24-hour delivery in several locations.

Regarding procurement, IKEA has 45 Indian suppliers, mainly in the textile and toy industries.

The company’s products are known worldwide for their modern design, affordability and practicality.

The Swedish company expects India to be its fastest growing market in the next 20 years, with a particular focus on customer experience, product range and expansion.

To achieve a larger consumer base, IKEA’s growth strategy includes a combination of large stores, smaller downtown channels and online imagery.

Since its founding in Sweden in 1943, IKEA has been expanding to become a major player in the furniture industry, operating over 400 stores in multiple countries.