Ikea announces its plan to invest over Rs. 10,500 crore (US $ 1.58 billion) in its Indian operations, seeing the market as a global priority.
“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,” said Peter Betzel, MD, Ikea India.
India has become one of the fastest growing markets for Ikea and, therefore, in order to expand its logistic capacity in India, it further plans to add another fulfillment centre in Pune with new centres in Bengaluru and Delhi.
Recently, the company opened a large format store in Navi Mumbai by the Turbhe local railway station – its second in India.
The retailer also has plans to open two smaller format stores: In Mumbai in 2021 and a store and commercial project in Noida.
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