Furniture

IKEA India revenue rises 6% to ₹1,860 crore in FY25 on furniture demand

IKEA India reported a 6% rise in FY25 revenue to Rs 1,860 crore, led by strong furniture and online sales, growing B2B demand, and food contributing nearly 10% of total sales

Ikea India expands Pune footprint with 37,000 sq ft retail lease

Ikea India's new retail lease in Pune's Phoenix Marketcity marks another step in the brand's omnichannel growth strategy across key urban markets

India set to gain from US tariffs on timber, lumber, kitchen cabinets

Once implemented, the new tariffs, ranging from 10 per cent to 25 per cent, will replace the current 50 per cent duties that India is facing

Ikea pledges lower prices in China as competition with local rivals grows

The Swedish company will commit 20 million euros ($23.4 million) in the fiscal year starting Sept. 1 to efforts to slash prices further in the market

IKEA expects India business to grow 10% in FY25, to expand network

Leading Swedish furniture and home furnishing retailer IKEA expects its India sales to grow by over 10 per cent in the financial year 2025, a top company official said here. IKEA follows the September-August financial year. While speaking with a media delegation, Ingka Group Retail Manager Tolga nc said that the company is confident of its expansion in the Indian market, where it plans to open a slew of small-format stores along with its traditional large (Blue Box) stores. Ingka Group operates IKEA stores in 31 countries, including India. IKEA, which gets around 30 per sales through online channels, is seeing an impressive jump in queries. In FY24 IKEA in India reported a widening of its total loss to Rs 1,299.4 crore, though its revenue from operations was at Rs 1,809.8 crore, up 4.5 per cent. When asked about the growth of IKEA in India, Tolga nc said: So right now, after many years, seven years of being in India with the retail business, we have finally come to a point where

Alfresco Affair: How to spend smart on outdoor furniture

As the weather turns, it's time to look at some outdoorsy furniture to make your fall and winter a more relaxing experience, be it out on the lawn or just the humble balcony

DRI busts major multi-crore branded luxury furniture import racket

The Directorate of Revenue Intelligence uncovers a multi-crore racket involving undervaluation and misdeclaration of luxury furniture, leading to significant customs duty evasion

Expect India to contribute 20% to global revenue in coming years: Hettich

German furniture fittings major Hettich expects India to contribute around 20 per cent of its global sales, already its second biggest market, according to a top company official. The company, which started manufacturing in India in 2013 at its Vadodara unit, is looking to leverage on the government's policy of promoting local manufacturing and tap the fast growing middle class in the country -- its fastest growing market in the world -- to strengthen its market leadership, Hettich India, Middle East & Africa Managing Director Andre Eckholt told PTI. He said Hettich is also scaling up exports to other markets, including the US, Australia, Europe and China, as it enhances production in India with a second manufacturing plant in Indore, Madhya Pradesh. "As a Hettich group, we have a global revenue of 1.5 billion euros, and the share of India is growing year-on-year because India for Hettich is the fastest growing market. Our share of the global revenue is increasing year-on-year," ..

Objects of desire: Statement pieces that make your home talk

From monkey butlers to custom wall murals, statement pieces are those few special things that instantly catch the eye and give a space its personality

Ikea to amplify sourcing from India to 50% for its global operations

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

Instamart will now deliver products from Home Centre in 10 minutes

India's leading home decor and furniture brand debuts on quick commerce, offering 10-minute delivery of lifestyle and kitchen products across key metro cities

With IPO in sight, mattress maker Duroflex aims double-digit revenue growth

The company has identified institutions as a large vector of growth in the coming years. Institutions like colleges, hospitals, hotels etc currently make up a small fraction of the company's revenue

Prices of art, wine, whisky, diamonds, furniture drop in 2024: Knight Frank

Prices of art declined maximum by 18.3 per cent annually during the last year among top 10 popular investments of passion while rates of wine and rare whisky fell by 9 per cent each, according to Knight Frank. On Wednesday, global property consultant Knight Frank released its 'The Wealth Report 2025'. In a statement, the consultant said that Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, revealed that only five out of the ten collectibles managed growth in 2024. Handbags were the best performing luxury asset class with prices rising 2.8 per cent in 2024, followed by jewellery 2.3 per cent, coins 2.1 per cent, watches 1.7 per cent and classic cars 1.2 per cent. "The weakest sectors were fine art, wine and whisky. Art was down 18.3 per cent, with the market seeing a total reversal from the double-digit growth of 2023 and a worse performance than during the COVID-19 crisis when values fell 17 per cent," Knight Frank ...

30% total sales from online delivery, says Ikea India CEO Pulverer

The company has already piloted same-day deliveries in the Hyderabad market, and is planning to launch it in other markets it operates in

Ikea India aims for operational profitability in couple of years, says CEO

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 sees slowest sales growth in India as losses mount, expands investment

Ikea's net loss widens by 15% to Rs 1,303 crore between August 2023 and September 2024 due to significant investments in infrastructure and store expansion

Fire at furniture market in Delhi's Nabi Karim area, 44 labourers rescued

The swift action of police averted a major tragedy in central Delhi as 44 labourers were rescued minutes before a blaze spread all over a four-storey building at a furniture market Nabi Karim area early Saturday morning, officials said. A call about the fire was received at 3.20 am. It was also reported that smoke was coming out from the building's ground floor, which is used as a furniture godown, a police officer said. The labourers were sleeping inside the building. It was found that there was an entry point to go on the upper floors but the shutter was closed. "The local police, in a swift action, broke the shutter, opened the gate, and proceeded to the second and third floors, where the labourers were sleeping," Deputy Commissioner of Police (Central) M. Harsha Vardhan said. Around 44 labourers were rescued before the fire spread all over the building and fire tenders arrived, he said. An official of Delhi Fire Service (DFS) said at least seven fire tenders were pressed into

'Use of fire-resistant upholstery fabrics must in non-domestic furniture'

The government has introduced stringent regulations mandating the use of fire-resistant upholstery fabrics in non-domestic furniture, a move expected to improve public safety with respect to fire-related tragedies. Effective from October, the Quality Control Order (QCO) now requires all upholstery components used at public spaces to comply with the Bureau of Indian Standards (BIS) norms. The QCO applies to upholstered composites and fabrics used in non-domestic furniture found in public areas such as offices, malls, airports, restaurants, underground shopping complexes, museums, hospitals, places of worship, and educational institutions. The order is also applicable on all imports of complete furniture or sub-assemblies having upholstered fabric meant for public use, however relaxation till March 31, 2025 has been provided on the request of industry. "This decisive action underscores the government's commitment to enhancing fire safety in public spaces and ensuring that all ...

Ingka Centres to invest Rs 5,500 cr on Ikea-anchored meeting place

The holistic project is expected to generate employment for over 9,000 youths, and boost the state's economic growth

Ikea looking for next phase of investments in India, plans smaller stores

Global furniture retailer Ikea is looking for the next round of investments in its priority market India as it enters the second phase of growth, its India CEO Susanne Pulverer said. Ikea will open small-format stores with a retail area of 30,000 to 70,000 square feet, in the adjacent markets of its existing and coming large-format stores besides growing its online presence here, she added. "We have done phase one, where we invested in the three first markets in four stores. We have taken the learnings. We have seen and learned even more from the Indian consumers, and now we take that to the next phase of the investment and expanding in India," Pulverer told PTI. Ikea's next destination is Delhi-NCR, where it will first start online sales in the first quarter of 2025 and then open its first physical store at its first 'Lykli' centre, which would come up in Gurugram in 2026. Currently, Ikea has large format stores in India at Hyderabad (4.8 lakh sq ft), Navi Mumbai (5.3 lakh sq ft)