IKEA India Sets Sights on Profitability as Expansion Plans Unfold

IKEA India is poised to achieve operational profitability within the next couple of years, according to CEO Susanne Pulverer. The Swedish furniture giant is entering its second phase of growth in India, focusing on stabilization and affordability. Despite widening losses in FY24, IKEA remains committed to its omnichannel expansion strategy, planning to open small-format stores and boost its online presence. The company is also looking at new locations like Pune and Chennai while increasing local sourcing to make products more affordable. IKEA's ambitious plans include growing its workforce from 3,000 to 10,000 employees in the coming years.

Source: Business Standard