As part of its entry plan for India, Swedish furniture chain IKEA, on Monday, said it had begun talks with authorities in main cities to get a better understanding of the market.
The company, which has set up a new product development centre in India, also said it was primarily focusing on textiles to enable development on the factory floor and optimise production, while also exploring other materials such as wood, metal, plastic and lighting.
“In India, we are currently defining the entry plan for IKEA. Talks have begun with authorities and representatives in the main cities to get a better understanding of the states and also share IKEA’s business model and needs,” IKEA said in a statement.
Elaborating on its strategy, the company said: “The most important priority is to find the right location for our stores at the right price in major cities, with easy access to public transport (metro) and good road network.”
In August, IKEA CEO Mikael Ohlsson had informed Union Minister for Commerce and Industry Anand Sharma that the Swedish furniture major had identified four States - Haryana, Andhra Pradesh, Maharashtra and Karnataka - to set up its stores.
On product development in India, IKEA said it would extend from textiles to other items. — PTI