As Swedish retail giant IKEA gets set to open up its first India store in Hyderabad this year, ‘India Investment Journal’ catches up with IKEA India’s Deputy Country Manager Patrik Antoni to see how the New Year is likely to pan out for the company.
How do you view 2017 for the company in India?
Very exciting times as we are working towards opening our first India store in Hyderabad by end 2017. Many people in India will soon have access to our home furnishings offer and a unique IKEA shopping experience.
India is a very important market for IKEA. We have been here for 30 years sourcing products for our stores around the world. We are learning a lot from India and we strongly believe that India will influence IKEA globally in a very positive way, both in terms of a retail market and also growing our sourcing landscape with new suppliers, new categories and new materials. We plan to open 25 stores by 2025 in the major Indian cities. So far we have bought land in Hyderabad and Mumbai, we are in parallel looking for sites in the four prioritised cities- Delhi NCR, Bengaluru, Mumbai and Hyderabad.