IKEA's Bold Indian Vision: Expansion and Profit by 2028
Swedish retailer IKEA is aiming for profitability in India by FY'28 through expansion and efficient operations. It plans to open 25 new stores, reduce fixed costs, and boost local sourcing. Despite recent losses, India remains a priority market with a focus on omnichannel growth.
- Country:
- India
Swedish furniture giant IKEA has outlined ambitious plans to achieve profitability in its Indian operations by the end of the financial year 2028. In a bid to capture a larger market share, the company is set to open 25 additional small and medium format stores over the next four to five years.
IKEA India CEO Patrik Antoni emphasized the strategic focus on boosting topline growth and operational efficiency. The approach includes reducing fixed costs and enhancing local sourcing, while also improving customer service and creating innovative solutions.
Despite reporting a widened loss of Rs 1,299.4 crore in FY'25, India remains a top priority for IKEA. The company is actively working on an omnichannel strategy that combines physical stores with online experiences to optimize costs and expand its footprint in key metropolitan areas.
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