IKEA to quadruple India revenue by 2030, invest ₹21,000 cr
Business
IKEA is aiming to quadruple its revenue in India by 2030.
The plan? Open more stores, going from eight to 30, and double its investment to ₹21,000 crore.
If things go smoothly, IKEA hopes to turn profitable in the country by 2027-28. Right now, it is already seeing double-digit sales growth.
IKEA adapts products for Indian families
Instead of just bringing over global designs, IKEA is tweaking its products for Indian families, where everyone gets a say on home stuff.
There are 400 million Gen Zs coming in, who have grown up with greater exposure to international brands and use social media for home furnishing ideas. The company sees a huge opportunity.
IKEA country chief executive Patrik Antoni says this local focus is key for growth in India.