Swedish furniture retailer Ikea is shifting its purchasing office, which sources products for its global supply chain from India, from Gurugram to Bengaluru from May 1, 2023. Ikea, which has earlier this week opened its fourth store in India in Bengaluru, wants its purchasing office to be near the other entities, said the company.
Meanwhile, the company opened its fourth Indian store, biggest in India, in the Indian tech hub of Bengaluru in Karnataka on Wednesday, four years after it entered the Indian market. Spread over 12.2 acres, the 4,60,000 sq. ft. IKEA Nagasandra store will feature more than 7,000 well-designed home furnishing products along with over 65 beautifully designed room sets for ideas and inspirations at home.
Ikea has been sourcing products for its global supply chain from India since the 1970s. The Swedish furniture retailer sources from industries, including textile, carpet, mattress, home accessories, plastic and metal products.
IKEA opened its first store in India in Hyderabad in 2018 while the second store was opened amidst Covid-19 breakout in 2020. IKEA has plans to invest Rs 10,500 crore to open 25 stores in India by 2025. In Delhi, IKEA has a land parcel in Gurgaon where work has started. Discussions are reportedly underway in NCR for the second parcel of land and the company is also looking for land for an additional outlet in Bengaluru too.