Swedish home furnishing major, IKEA is looking forward to ramp up sourcing from India, the country from where it has been sourcing from past 30 years, to a new level.
Jesper Brodin, CEO, IKEA Group said, “Today is a proud moment as it marks a major milestone in a journey that started more than 30 years ago when IKEA partnered up with local manufacturers in India. We have a long-term commitment to India, which is an important market for us. We bring an inspiring, affordable and convenient home furnishing offer and we are more than ready to meet and understand the needs, frustrations and dreams in the everyday lives of our customers in India.”
He added, “India will become one of IKEA’s biggest sourcing markets in the future.”
At present, IKEA’s top suppliers are China, Poland and Italy, whereas in India, there are more than 50 suppliers and IKEA has long-term partnerships with many from past decades.
15 new suppliers have associated with the brand in last two years in new categories besides textiles. In future, IKEA is looking at exploring new categories like ceramics, glassware, wood, natural fibres, bamboo etc.
“India is a long-term investment and one of the biggest future markets for IKEA and the brand is looking forward to be more affordable and accessible in India,” said Brodin.
IKEA is looking to keep prices even lower in India than it typically does elsewhere.