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IKEA India
Realty firm Puravankara Ltd has given on lease around 1.2 lakh sq ft retail space to Swedish furniture retailer IKEA in Bengaluru. In a regulatory filing on Monday, the company informed that it has signed an Agreement to Lease (ATL) with IKEA India for leasing of two floors of retail space at the Purva Zentech Park, located on Kanakapura Road, Bengaluru. The project is a mixed-use commercial development with about 9.6 lakh square feet of leasable and saleable area. The project is currently under construction and is slated for completion by early 2026. IKEA India will occupy retail space of more than 1.2 lakh square feet of leasable area across two floors, it said. Real estate consultant Colliers' office services team was the advisor on this transaction. As of September 30, 2025, Puravankara has completed 93 projects totalling 55 million sq ft across nine citiesBengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
Swedish home decor and furniture retailer IKEA sees growth potential coming over the next three decades in India on the back of the country's economic growth, demographic dividend and young families coming into the consuming class, said IKEA India CEO Patrik Antoni. IKEA, which on Wednesday entered the Northern market with the opening of a city store here, is also working to increase local sourcing for its local retail operations from 30 per cent to 50 per cent in the next five years, he said. "The population size itself, the economic growth, but also the whole demographics of the society, where there are so many young people, so many young families that are coming out. So, I think it's probably the growth potential we see over the coming 30 years," Antoni told PTI. IKEA, which has now entered into the second phase of growth in the country, is working with an omnichannel strategy here, where it has classical large-size stores, along with small city stores, supporting its online sale
IKEA India, part of leading Swedish home furnishings retailer, on Tuesday announced the appointment of Patrik Antoni as its next CEO. Antoni, whose appointment will be effective from August 2025, will also work as Country Retail Manager & Chief Sustainability Manager (CSO), IKEA India said in a statement. He will replace incumbent Susanne Pulverer, current Country Retail Manager & CSO, who has decided to leave her role at IKEA. She was associated with IKEA for 28 years and has spent over eight years in India in three stints. "Antoni will lead the company's ambitious growth plans in India, leveraging his 20-plus years of IKEA experience and deep knowledge of the total IKEA value chain. In this new structure, the CEO will take on holistic responsibility for retail operations in India and common topics across Ingka companies," it said. Antoni has experience in India, including a 5-year stint as Deputy CEO, which will enable him to navigate the market's unique opportunities and ...
Global home decor and furniture retailer IKEA has ambitions to increase sourcing from India to 50 per cent, Swedish trade minister Benjamin Dousa said on Wednesday. IKEA's sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa said that India is aiming to increase the share of manufacturing in the country's GDP and Sweden is a partner in this endeavour. "One example is IKEA that has communicated to their ambition to amplify sourcing locally from India to 50 per cent for its global operations from the current 30 per cent," he said here while addressing businesses of India and Sweden. Presently, Europe is IKEA's biggest supplier, followed by America and Asia, in which China leads. IKEA has been sourcing from India for the last five decades, though it started its retail operation in India in 2018 by opening its first store in Hyderabad,
India is a "focus market" for the Swedish global home decor and furniture retailer IKEA, where it is increasing sourcing for its global operations and increasing local sourcing to 50 per cent, from the current 30 per cent, for the domestic retail business, a top company official said. The move will help to cater local retail and global operations, and will also generate more jobs across the supply chain, said Christina Niemel Strm, Head of Sustainability for Supply, Inter IKEA Group. India is "in the top 10 of our sourcing countries" list, from where it is procuring products worth around 400 million euros for its global retail operations, Strm told PTI in an interaction. IKEA's current sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. "Our aim to source more product categories such as sofas, mattresses and storage furniture from the country now,' said Strm, adding "Inter IKEA Group has identified India as a focus market
Swedish furniture retailer Ikea, which is starting online sales in Delhi-NCR and nine other markets this week, is looking for next round of investments in India and will move to profitability after expansion, said its India CEO Susanne Pulverer. Ikea is planning to have 2 full-size stores in Delhi-NCR -- at Gurugram in 2026 and Noida in 2028. It also plans to open physical stores in Chennai and Pune in the next phase after having operational stores in Hyderabad, Mumbai and Bengaluru. After entering these six key metro markets, Ikea will work on its next phase of journey for the country, where it will expand with smaller stores and an omni-channel strategy. Pulverer did not specify any timeline for Pune and Chennai stores but said Ikea would be there in a couple of years. In Pune, Ikea is already available through online sales. "The physical expansion has to complement e-commerce at Pune, and Chennai is the market we have not opened. These are together with the continuing Bangalore
Ikea India, a leading Swedish furniture and home furnishing retailer, expects to achieve operational profitability in a couple of years, Susanne Pulverer, Ikea India CEO and Chief Sustainability Officer, said on Friday. In a media interaction here, she said that after overcoming the impacts of Covid 19, subsequent inflation hikes, and disruptions in supply chains and raw materials, Ikea is preparing for the next phase while focusing on stabilisation and affordability. "It (operational profitability) will take a couple of years, but we have a very clear plan to achieve it," she said. Ikea India reported a widening of losses to Rs 1,299.4 crore in FY24, according to an RoC filing by the company, a subsidiary of Netherlands-based Ingka Holdings. Its revenue from operations stood at Rs 1,809.8 crore, marking a 4.5 per cent increase in the financial year ending March 31, 2024, according to financial data accessed through the business intelligence platform Tofler. According to the compa
Ikea India, a leading furniture and home furnishing retailer, reported widening of losses to Rs 1,299.4 crore in FY24, according to an RoC filing by the company, a step-down unit of Netherlands-based Ingka Holdings. Its revenue from operations was at Rs 1,809.8 crore, up 4.5 per cent in the financial year that ended on March 31, 2024, according to financial data accessed through business intelligence platform Tofler. Total income of Ikea India Pvt Ltd was also up 5.12 per cent to Rs 1,852.7 crore in FY24. Ikea India reported a loss of Rs 1,133 crore and its revenue from operations was at Rs 1,731.6 crore a year earlier. According to the company, the increase in loss is largely due to investments towards expansion towards omnichannel growth. "IKEA India maintained solid sales growth despite no price increase and lowering the prices on certain products in FY24. Our losses largely reflect the investment we are making towards our omnichannel growth," said an Ikea spokesperson. Ikea .