Ikea India to restrict upcoming store sizes to 30,000 sq ft-70,000 sqft
18 September 2024, Mumbai
As a part of the second phase of its brick –and- mortar expansion in India, global homeware and lifestyle retailer Ikea India plans to limit the size of its upcoming stores to 30,000 sq ft-70,000 sq ft. The company plans to launch a new store in the Delhi-NCR besides ramping up its online presence in the country.
In the first phase of the company’s expansion in India, Ikea launched four stores in three markets of the country, notes Susanne Pulverer, CEO, Ikea India. It also plans to launch e-commerce operations in New Delhi in Q1, FY25 before opening its first brick-and-mortar store at the ‘Lykli’ centre in Gurugram in 2026.
Being a low-cost and a cost-conscious company, Ikea India strives to source new solutions to compensate for the high land prices and interest rates in India, says Pulverer It collaborates with other companies to source more locally available products to boost its gross margins.
