IKEA targets 4x revenue growth in India
IKEA aims to quadruple its revenue in India by 2030, with CEO Patrik Antoni highlighting the unique role men play in home furnishings decisions. Unlike in other markets where women typically lead conversations, Indian men often participate actively, and families frequently make home-related purchases together. This reflects evolving attitudes among younger consumers who view furniture as a means of self-expression, thanks to global exposure through social media.
Antoni noted that IKEA must adapt its products and displays to accommodate Indian living arrangements, moving beyond replicating Swedish designs. The company plans to expand its store network from eight to 30 and double its investments to Rs 21,000 crore, with the goal of becoming profitable by 2027-28 once global conditions stabilize.
Although the global scenario remains volatile, Antoni believes that scale will enable IKEA to reduce costs and improve profitability in the long run.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
