IKEA's Strategic move! Expanding online & physical footprints in Key cities of India

In addition to current locations in Bangalore, Hyderabad, and Mumbai, IKEA is looking into opening more stores in Tamil Nadu, Maharashtra, and Karnataka. Juvencio Maeztu, the deputy CEO and CFO of Ingka Group (IKEA), unveiled the company's strategic expansion plans for India at the World Economic Forum in Davos.

In addition to building two sizable shopping malls with an IKEA store in Noida and Guru Granth, the company is getting ready to start selling products online in Delhi NCR. By working to offer sustainable living options, it will reinforce its dedication to affordability and sustainability.

To accomplish this, IKEA intends to boost local sourcing from 30% to 50% and use only renewable energy in its operations in India this year.

Furthermore, IKEA has demonstrated its commitment to minimizing its environmental impact by using electric cars for 90% of deliveries in places like Bangalore, Hyderabad, and Pune.

"We are building, as we speak, two very big shopping centers, one in Guru Granth and the other one in Noida. And this big shopping center will have an IKEA store. It's already under construction, this exciting project, and we will soon open online sales of IKEA in Delhi NCR as well," Juvencio Maeztu, Deputy CEO, CFO, and Management Board member, IKEA.

"We are building, as we speak, two very big shopping centers, one in Guru Granth and the other one in Noida. And this big shopping center will have an IKEA store. It's already under construction, this exciting project, and we will soon open online sales of IKEA in Delhi NCR as well”, Maeztu added.