Ikea

Ikea launches its first 'Plan & Order Point' service in India

This service will be available at its experience centre in East Bengaluru and spans 740 sq metres

Ikea begins online delivery in Delhi-NCR, nine other North Indian cities

Ikea has launched online delivery in Delhi-NCR and nine other North Indian cities, allowing customers to shop via its website, app, and Shop by Phone service ahead of its store openings

Global furniture major Ikea eyes next round of funding for India play

Expands in North India with central distribution centre in Delhi-NCR

Ikea looking for next phase of investment in India, aims growth: CEO

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 expands to Delhi-NCR: Online sales to begin before stores open

Ikea's offline presence in Delhi-NCR will follow soon, with two stores under construction in Gurugram and Noida

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

Tariffs could drive prices higher: Top Ikea retailer warns in Davos

Inflation and high interest rates have had a "damaging" impact on consumers over the past few years, Brodin said, adding that he saw demand improving

Ikea FY24 results: Loss widens to Rs 1,299 cr, revenue up at Rs 1,809.8 cr

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 .

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

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)

UP CM Adityanath virtually lays foundation stone for Ikea store in Noida

Uttar Pradesh Chief Minister Yogi Adityanath on Monday virtually laid the foundation stone for the IKEA store in Noida from Lucknow, an official statement said. During his address, he said that in the past seven and a half years, Uttar Pradesh has gained the confidence of both domestic and international investors, with IKEA India being a key example. Adityanath said that the state has now become the preferred investment destination in India. It has embarked on a new era of growth. Since 2017, UP has been actively promoting infrastructure development, fostering new investment opportunities, skill development, and promoting traditional products, all of which are now yielding tangible results. He underscored the state's ODOP (One District One Product) scheme as a pioneering initiative nationwide, and its leading position in ease of doing business, bolstered by its robust law and order environment. "Uttar Pradesh, India's most populous state, currently contributes 9.2 per cent to the

Ingka Centres to invest Rs 5,500 cr in India on 2nd meeting place at Noida

Ingka Centres, a part of Ingka Group that operates IKEA retail, will invest 607 million euros (about Rs 5,500 crore) to set up its second meeting place in India at Noida under the Lykli brand, taking its overall investment in the country to a 1 billion euros, according to the company's Global Expansion & Development Director Sebastian Hylving. It is betting big on the Indian market and is looking at expanding where IKEA plans to open its outlets in the country, although the opening of its first meeting place in Gurugram -- Lykli Gurugram -- has been pushed to 2026 from the originally planned opening in late 2025. The company on Monday unveiled the second IKEA-anchored meeting place in India at Noida which will offer a blend of retail, dining, hospitality, co-working spaces, entertainment, and cultural experiences tailored to the needs of modern urban residents. "It (Lykli Noida) is at an investment of 607 million euro...that investment is purely for the Noida project, and then we .

Ikea to electrify all deliveries in India by 2025, expand EV fleet by 40%

Currently, 88% of Ikea's deliveries in India are made using electric vehicles

Ikea pilots same-day delivery in Hyderabad, hits 100% EV delivery goal

As part of its sustainability strategy, Swedish furniture giant Ikea has committed to entering all new markets, including the Delhi-NCR region, with an EV-first approach

Mission 2025 group urges governments to aim more ambitious climate goals

Corporate backers include consumer goods company Unilever, the world's biggest furniture retailer IKEA and British sustainable energy company Octopus EV

Mission 2025 group urges governments to aim more ambitious climate goals

Corporate backers include consumer goods company Unilever, the world's biggest furniture retailer IKEA and British sustainable energy company Octopus EV

Ikea lost $5,000 each time when a worker quit, so it began paying more

For a service-driven company like Ikea, unhappy workers can quickly lead to unhappy customers

Ikea gets closer to Delhi-NCR, to set up warehouse facility in Gurugram

Spread over 150,000 square feet, the warehouse facility will be able to store over 7,000 products and aid the group's expansion into Delhi-NCR

Ikea announces Gurugram warehouse deal to boost Delhi-NCR deliveries

International logistics firm Rhenus will set up facility for Swedish furniture retailer, expected to be operational by early next year

Zara is reopening its shops in this country after a two-year hiatus

Several companies shut their doors in Ukraine as well as Russia two years ago but many of them are now returning