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IKEA to keep prices low for cost-conscious Indians amid high import taxes

IKEA is pushing into Asia and South America as growth slows in Europe and other traditional markets

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Ikea

Reuters  |  Hyderabad 

IKEA is looking to keep prices even lower in India than it typically does elsewhere when it opens its first store in the country on Thursday, overcoming high taxes on imported goods as it woos cost-conscious shoppers unaccustomed to DIY furniture. Over a decade since floating the idea of Indian expansion, the Swedish retailer will finally mark its entry with a 400,000 square foot (37,160 square metre) store in Hyderabad, where it will sell 1,000 items including cutlery and stuffed toys for less than 200 rupees ($2.91). IKEA is pushing into Asia and South America as growth slows ...

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First Published: Wed, August 08 2018. 16:03 IST
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