Maritime Gateway - - Cargo – Furniture -

IKEA makes its foray into the In­dian mar­ket with a 400,000-square feet large ‘home entertainment cen­tre’ in Hyderabad. The com­pany has brought land parcels Hyderabad, Mumbai, Bengaluru and

Delhi. Go­ing for­ward, the sec­ond store will open in Mumbai in 2019. Look­ing ahead, more cities will be added in­clud­ing Pune, Su­rat, Ahmedabad, Chen­nai and Kolkata.

Hint­ing at IKEA’S sourc­ing strat­egy Patrik An­toni, Deputy Coun­try Man­ager, IKEA In­dia says, “Glob­ally In­dia stands at 3 per cent of the to­tal IKEA sourc­ing which con­sti­tutes €350 mil­lion worth of re­source. We are sourc­ing from 55 coun­tries around the world. In Europe, around 60 per cent of the sourc­ing comes from the same mar­ket. In China, we source 70 odd per cent of the re­sources. In In­dia we will source may be 5-6 per cent lo­cally and that num­ber is about to grow more than 30 per cent. Over­all, we have around 9,500 prod­ucts but cur­rently make only 200 of them in In­dia and we have to in­crease it. For us, man­u­fac­tur­ing of our fur­ni­ture is based on global com­pet­i­tive­ness and In­dia as a mar­ket at the mo­ment is not big enough to have a man­u­fac­tur­ing fac­tory.”

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.