Swedish furniture chain IKEA, which is in the process of establishing its first shop in India, is looking to scale up sourcing of furniture from the country and also plans to procure bigger items for its global operations.
The furniture giant, which intends to invest around Rs 10,500 crore in India, has been sourcing many products, including textiles, carpets, metals, plastic, lighting and decorative items, for its global sales for last 26 years. “We are really into many different things. We are also sourcing small furniture as of now but are looking for bigger furniture. We can see great opportunities to do a lot more in many different segments,”
IKEA South Asia Trading Area Manager Jessica Anderen told the news agency. When asked about the kind of big furniture the company is looking to source, she said it would be both wooden and metal. IKEA, which inaugurated its latest designed Punja loom here, used for producing durries, had sourced goods totalling $450 million from India across segments in 2012-13 fiscal from its network of 54 suppliers and is looking to double it in the next five years.”...It would be fantastic if we can double the business in the next five years in India,” she said, adding that it would also depend how much capabilities India has.When asked whether it has roped in new partners for its sourcing from India, Anderen said: “We are constantly mapping and looking into other areas... However, it would depend on factors such as expertise, raw material, right partners and location.”