IKEA opens 4th global product development center in India
IKEA just launched its fourth global product development center in India, joining its hubs in Sweden, China, and Vietnam.
The goal? Design affordable home products that fit Indian lifestyles but also work for shoppers worldwide.
Oskar Lindkvist, who leads the center, said India is no longer only a sourcing base but a product-development and export hub for the global organization.
IKEA India aims 50% local sourcing
The center has already rolled out 150 new products and is working on 220 more.
By tapping into local materials and manufacturing talent, IKEA wants to keep prices low while staying connected to its global supply chain.
Right now, about 30% of what you see at IKEA India is sourced locally, but it's aiming for 50%.
With about $400 million worth of goods supplied from India each year, most of it exported, this move cements the country as a major player in how IKEA creates and sources its products.