Ingka Group, the largest retailer operating IKEA stores worldwide, plans to expand its physical presence in India over the next five years.
The Netherlands-headquartered franchisee operator aims to open 25 small and medium-sized outlets across the country.
The company is also progressing with large-format stores being built on the outskirts of New Delhi as part of Ikea-owned shopping centre developments.
Gurugram is expected to open first, followed by Noida.
The update comes as Ikea opened an outlet in Pune, marking its sixth store in India. This follows earlier openings in Bengaluru, Mumbai, Navi Mumbai, and New Delhi.
Ingka Group (Ikea) global commercial manager Javier Quiñones said: “India is one of our most important markets globally, and we are putting even greater focus on it as a place for growth.
“The Indian home furnishing market is expected to grow by 50% in value by 2030. We want to play a role in this, while also learning from India and other Asian markets where retail is developing rapidly and where we are still a young brand.”
Ikea India CEO Patrik Antoni said: “We feel we have built a solid understanding of our customers across different parts of the country to take a bolder leap in the coming period.
“We can inspire more people to make the most of their living situations – offering ideas and solutions that may be new to many people in India. Expanding our network and becoming more accessible is key to that.”
Ingka Group said it has invested more than €900m ($1.03bn) in the Indian market to date.
Alongside store expansion, Ikea is widening digital access to its services in additional regions.
Most recently, online delivery has been extended in Tamil Nadu, enabling service availability to an estimated ten million potential customers in the state.
The India-based activity sits within Ingka Group’s wider €5bn investment programme over three years, intended to support retail development through new openings and upgrades to existing locations across most of its 32 markets.
Ingka Group accounts for 87% of Ikea retail sales and runs Ikea sales channels under franchise agreements with Inter Ikea Systems.
“IKEA retailer plans 25 new India outlets over five years” was originally created and published by Retail Insight Network, a GlobalData owned brand.
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