IKEA India

Expands in North India with central distribution centre in Delhi-NCR

Swedish furniture retailer Ikea, which is starting online sales in Delhi-NCR and nine other markets this week, is looking for next round of investments in India and will move to profitability after expansion, said its India CEO Susanne Pulverer. Ikea is planning to have 2 full-size stores in Delhi-NCR -- at Gurugram in 2026 and Noida in 2028. It also plans to open physical stores in Chennai and Pune in the next phase after having operational stores in Hyderabad, Mumbai and Bengaluru. After entering these six key metro markets, Ikea will work on its next phase of journey for the country, where it will expand with smaller stores and an omni-channel strategy. Pulverer did not specify any timeline for Pune and Chennai stores but said Ikea would be there in a couple of years. In Pune, Ikea is already available through online sales. "The physical expansion has to complement e-commerce at Pune, and Chennai is the market we have not opened. These are together with the continuing Bangalore

Ikea's offline presence in Delhi-NCR will follow soon, with two stores under construction in Gurugram and Noida

The company has already piloted same-day deliveries in the Hyderabad market, and is planning to launch it in other markets it operates in

Ikea India, a leading Swedish furniture and home furnishing retailer, expects to achieve operational profitability in a couple of years, Susanne Pulverer, Ikea India CEO and Chief Sustainability Officer, said on Friday. In a media interaction here, she said that after overcoming the impacts of Covid 19, subsequent inflation hikes, and disruptions in supply chains and raw materials, Ikea is preparing for the next phase while focusing on stabilisation and affordability. "It (operational profitability) will take a couple of years, but we have a very clear plan to achieve it," she said. Ikea India reported a widening of losses to Rs 1,299.4 crore in FY24, according to an RoC filing by the company, a subsidiary of Netherlands-based Ingka Holdings. Its revenue from operations stood at Rs 1,809.8 crore, marking a 4.5 per cent increase in the financial year ending March 31, 2024, according to financial data accessed through the business intelligence platform Tofler. According to the compa

Ikea India, a leading furniture and home furnishing retailer, reported widening of losses to Rs 1,299.4 crore in FY24, according to an RoC filing by the company, a step-down unit of Netherlands-based Ingka Holdings. Its revenue from operations was at Rs 1,809.8 crore, up 4.5 per cent in the financial year that ended on March 31, 2024, according to financial data accessed through business intelligence platform Tofler. Total income of Ikea India Pvt Ltd was also up 5.12 per cent to Rs 1,852.7 crore in FY24. Ikea India reported a loss of Rs 1,133 crore and its revenue from operations was at Rs 1,731.6 crore a year earlier. According to the company, the increase in loss is largely due to investments towards expansion towards omnichannel growth. "IKEA India maintained solid sales growth despite no price increase and lowering the prices on certain products in FY24. Our losses largely reflect the investment we are making towards our omnichannel growth," said an Ikea spokesperson. Ikea .

Ikea's net loss widens by 15% to Rs 1,303 crore between August 2023 and September 2024 due to significant investments in infrastructure and store expansion

The holistic project is expected to generate employment for over 9,000 youths, and boost the state's economic growth

Global furniture retailer Ikea is looking for the next round of investments in its priority market India as it enters the second phase of growth, its India CEO Susanne Pulverer said. Ikea will open small-format stores with a retail area of 30,000 to 70,000 square feet, in the adjacent markets of its existing and coming large-format stores besides growing its online presence here, she added. "We have done phase one, where we invested in the three first markets in four stores. We have taken the learnings. We have seen and learned even more from the Indian consumers, and now we take that to the next phase of the investment and expanding in India," Pulverer told PTI. Ikea's next destination is Delhi-NCR, where it will first start online sales in the first quarter of 2025 and then open its first physical store at its first 'Lykli' centre, which would come up in Gurugram in 2026. Currently, Ikea has large format stores in India at Hyderabad (4.8 lakh sq ft), Navi Mumbai (5.3 lakh sq ft)

Uttar Pradesh Chief Minister Yogi Adityanath on Monday virtually laid the foundation stone for the IKEA store in Noida from Lucknow, an official statement said. During his address, he said that in the past seven and a half years, Uttar Pradesh has gained the confidence of both domestic and international investors, with IKEA India being a key example. Adityanath said that the state has now become the preferred investment destination in India. It has embarked on a new era of growth. Since 2017, UP has been actively promoting infrastructure development, fostering new investment opportunities, skill development, and promoting traditional products, all of which are now yielding tangible results. He underscored the state's ODOP (One District One Product) scheme as a pioneering initiative nationwide, and its leading position in ease of doing business, bolstered by its robust law and order environment. "Uttar Pradesh, India's most populous state, currently contributes 9.2 per cent to the

As part of its sustainability strategy, Swedish furniture giant Ikea has committed to entering all new markets, including the Delhi-NCR region, with an EV-first approach

Spread over 150,000 square feet, the warehouse facility will be able to store over 7,000 products and aid the group's expansion into Delhi-NCR

International logistics firm Rhenus will set up facility for Swedish furniture retailer, expected to be operational by early next year

Ikea India has two more stores in Mumbai which will continue. It has a city store in Worli and a big box store at Navi Mumbai

Swedish furniture retailer IKEA is looking at the next round of investment in India after exhausting its commitment of Rs 10,500 crore when it entered the country 10 years back, according to the company's India CEO Susanne Pulverer. The company, which kicked off its retail operations in India with the opening of its first store in Hyderabad in August 2018, is currently setting up projects in Delhi-NCR that are expected to open in 2025 and will complete its committed investment for 10 years. "This first investment that we committed is booked with the projects in NCR. So with that, we have exhausted the Rs 10,500 crore and we are looking at the next level of investment to further build IKEA presence in India, to expand volumes and increase sourcing. So that is in the plan making and we will announce more when we are ready. The plans are being formulated, and we will make announcements when ready," Pulverer told PTI. In 2013, the government approved a Rs 10,500 crore FDI proposal by Ik

Leading furniture retailer Ikea has introduced doorstep delivery facility in 62 new markets in India, and the company expects online demand to go up in the coming years, the company's India CEO Susanne Pulverer said. At present, Ikea India gets around 25 per cent of its sales through online channels. The company will soon launch its Shop By Phone assistance service, she said. This is part of the approach of the entire Ikea brand evolving towards an omnichannel approach globally, acknowledging the challenges of people having less time and the importance of convenience in their purchasing decisions, said Pulverer. "It (online sales) is around 25 per cent of our total turnover. We believe there is potential for further growth both in terms of market share and overall sales," Pulverer told PTI. The 62 new markets are spread across Maharashtra, Karnataka, Andhra Pradesh, and Telangana, which would be served from its nearby stores. The nature of Ikea business is such that customers seek

Pulverer said that IKEA is also working on increasing sourcing from India, which currently stands at 30%

The Swedish furniture major is also changing its food menu to offer more local products, depending on where the store is located

Ikea will have to pay Sangeetha Bohra a sum of Rs 20 with interest, Rs 1,000 towards damages and Rs 2,000 towards litigation expenses

Swedish furniture maker Ikea is looking for omnichannel expansion with diverse retail formats besides kicking off online operations in Delhi-NCR by the end of 2024 as it enters the second phase of growth in the Indian market. According to company India CEO Susanne Pulverer, Ikea 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. Ikea, which has completed five years of retail operations after opening its first store in Hyderabad on August 9, 2018, plans to increase its employee count to 10,000 from 3,000 in the coming years. Besides, 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. "Our next growth phase in India looks very promising and full of opportunities. IKEA is committed to India and here for the long term. We are looking a