IKEA to make further investment of Rs. 10,500 crore in the Indian market
By Retail4Growth Team | Retail4Growth Team | December 18, 2020
The company looks forward to strengthen its presence in the country as it considers India to be the fastest-growing market for world largest furniture retailers.
The furniture giant, IKEA is all set to invest Rs. 10,500 crore that it has allocated for the Indian market as it sees a lot of potential for further development in India, globally.
On the inaugural ceremony of the Navi-Mumbai store, Peter Betzel, CEO, IKEA India, stated, “India is set to become one of the fastest-growing markets for the world largest furniture retailers. If we need more investments in the future and continue to be successful in India where we are committed, we can extend the investments whenever needed. This wonderful country of 1.3 billion people is one of the priority markets for IKEA and we are in an early stage in India. India is an emerging country but it is also one of the fastest-growing economies.”
The company has claimed to open two small format stores in Mumbai by 2021and is all set to work on its store-cum-commercial project in Noida. It will also come up with fulfilment centres in Bengaluru and Delhi.
