IKEA Global CEO Jesper Brodin has said that India is compelling the Swedish home furnishings leader to rethink its product mix, pricing models, and overall value proposition as it deepens its footprint in the country. He described India as both a challenge and an opportunity, highlighting its influence on IKEA’s broader global strategy.
In an interview with CNBC-TV18, Brodin admitted that global tariff uncertainties continue to create turbulence. While these pressures may persist for “a few months,” IKEA is prepared to adapt and operate within the environment, even if policy directions remain outside its control.
Brodin noted that Indian consumers have particularly high expectations for price and service, forcing IKEA to design offerings that align more closely with local needs. Currently, IKEA runs five to six outlets in India but intends to accelerate expansion once the store count reaches 10–12.
India, however, is more than just a retail market for the brand. It is also emerging as a significant sourcing hub. Already a key supplier of textiles and soft toys, India is expected to play a bigger role in furniture production. At present, about 30% of IKEA’s products in India are locally made, with a target of 50% by 2030.
The company is also building new capabilities and evaluating both organic and inorganic avenues for growth, including strengthening its online and offline presence. A near-term priority will be developing a fresh cooking and dining product line tailored for Indian households.
IKEA India CEO Patrik Antoni emphasized that the company expects India to become its fastest-growing market over the next two decades. This momentum will be driven by a sharpened focus on customer experience, product diversity, and expansion. The growth blueprint includes a mix of large-format stores, smaller city outlets, and a strong digital platform to broaden accessibility.
Antoni also underscored IKEA’s ambition to deliver a genuine “paisa vasool” (value for money) experience, ensuring affordability without compromising quality or service. This approach, he said, will be critical in winning the trust and loyalty of Indian shoppers as the company scales its presence across the country.
