Ikea enters the Indian e-commerce space with online store in Mumbai

Ikea, the Swedish home furnishings major, has opened its online store in Mumbai amid plans to launch retail outlets in the city. The company’s entry into Mumbai with an online store is part of its new multichannel approach to reach 100 million customers in the next few years.

The company had forayed into India with the introduction of its first retail store in Hyderabad last year.

Ikea has adopted a multichannel strategy in Mumbai with plans to offer smaller format stores and a big format store in Navi Mumbai.

Peter Betzel, CEO of Ikea India, said, “India's retail landscape is changing at a scale and pace not seen before driven by increasing urbanisation and changing customer behaviours. To be a key partner to many of India in this journey, Ikea is also transforming.”

“Today marks an important occasion in our history as we roll out our multi-channel, digital-first approach with Mumbai being amongst the first few markets worldwide, where we are bringing alive this transformation,” he added.

The company’s online store will offer 1,000 products priced below Rs 200.

Presently, Ikea has over 55 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain in India.