IKEA's Expansion Blueprint: Thriving in India's Rising Market

IKEA is targeting significant growth in India over the next 30 years, capitalizing on the nation's economic expansion and young population. CEO Patrik Antoni emphasizes increased local sourcing and an omnichannel strategy, combining large and small city stores to enhance consumer accessibility and online retail integration.

IKEA, the Swedish home decor giant, views India's burgeoning economy and growing young consumer base as fertile grounds for expansion over the next three decades, according to CEO Patrik Antoni.

With the recent launch of a city store in Northern India, IKEA plans to ramp up local sourcing from 30% to 50% within five years, reflecting its commitment to India's market potential.

Focusing on an omnichannel approach, the retailer is integrating large-scale and city-specific stores with online platforms, eyeing a future where online sales exceed their current 30% contribution.

(With inputs from agencies.)