This is a landmark moment for IKEA after it got FDI approval in 2013 that allowed 100% FDI for single brand retailers in India. IKEA has been sourcing from India for its global stores for more than 30 years. Its plan to open retail stores in 40+ cities across the country, reinforces its long-term commitment and deep connection with India.
IKEA’s business idea is based on ambition of reaching the many people with thin wallets. As it sets a goal to reach 200 million people in the next 3 years, the foundation for a strong and relevant offer is affordability and accessibility. IKEA will attract the many different segments in society and not just the few. More than 1000 products are priced below Rs.200!