29 July 2022, Mumbai:
IKEA India plans to increase local sourcing and cut product prices to attract consumers amid rising prices.
SussanePulverer, CEO, IKEA India has increased the prices of some of its products while absorbing the inflation costs on other products.
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The retailer has stores spanning 300,000 to 400,000 square feet usually located on the outskirts of Mumbai. The Swedish retailer opened its fourth store in the country in the R city mall, Mumbai. This will be the third store in the city.
Reportedly, even after three stores in Mumbai, the retailer plans to continue with its expansion plans in the city. With the launch of the third store in Mumbai, IKEA will have five operational stores in the country. IKEA India on July 28 will launch its second city store in Mumbai after Worli.
The company also launched a large format store in Navi Mumbai in 2020.
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