As it opens its fifth store in the country, Susanne Pulverer, CEO and CSO, IKEA India, says the Swedish home furnishing retailer plans to invest close to Rs10,500 crore in the Indian market
Susanne Pulverer, CEO & CSO, IKEA India
Swedish home furnishing retailer IKEA opened its fifth store in India on Thursday and its third outlet in Mumbai, spread across 72,000 square feet. In 2019, the company started its ecommerce services in the country followed by a store launch in Navi Mumbai in 2020.
Only last month, IKEA launched a 460,000 square feet store in Bengaluru. The company has allocated investments of Rs6,000 crore for Maharashtra and Rs3,000 crore for Karnataka. For the Indian market, the Swedish firm plans to invest Rs10,500 crore.
Though the company has only five stores in India currently, the Ingka Group, IKEA's parent company, sees the country as a 'growth market'. It is likely to set up its next outlet in New Delhi. Susanne Pulverer, chief executive officer & chief sustainability officer at IKEA India, speaks to Forbes India about the company’s expansion plans. Edited excerpts:
Q. What has been the response from the Indian market?