Confidence in India remains strong, with the country expected to emerge as one of IKEA’s leading markets, IKEA India CEO Patrik Antoni said, outlining plans to expand stores and sourcing operations.
IKEA plans to more than double its investment in India to over ₹20,000 crore over the next five years, aiming to expand its store network and significantly boost local sourcing.
The Swedish furniture retailer IKEA, which opened its first India store in Hyderabad in 2018, will start accepting online orders in four additional cities where it does not yet have physical outlets, including Chennai and Coimbatore.
“India may not yet be a major IKEA market, but there is strong confidence that it will emerge as one of our top markets,” said Patrik Antoni, Chief Executive Officer of IKEA India, in an interview with Reuters.
IKEA’s India sales rose 6 percent to ₹1,861 crore in the year ended August 2025, and Antoni said the company aims to quadruple this figure, including by expanding its store network to 30 outlets. He added that IKEA plans to launch online operations before opening physical stores in new cities – a first for the company globally – as younger consumers increasingly prefer online shopping to avoid traffic. The company also plans to double production for domestic stores and exports to €800 million, he said.
IKEA’s decision to deepen its focus on India comes at a time when global brands are increasing export production in the country to reduce costs, while consumer companies – from shoemaker Asics to automaker VinFast Auto – are also ramping up local sourcing to cater to domestic demand.
Last year, US President Donald Trump raised tariffs on certain imports from India to as high as 50 percent, prompting several industries to seek alternative markets. However, Patrik Antoni said the move has had limited impact on IKEA’s Indian suppliers, as the company—which has the bulk of its stores in Europe – ships a larger share of its products to markets outside the US.