IKEA Plans USD 2.2 Billion Investment Boost in India, Targets 30 Stores and Higher Online Sales
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India: Sweden’s IKEA will more than double its investment in India to over USD 2.20 billion over the next five years as it plans to open more stores and expand local sourcing, according to IKEA India CEO Patrik Antoni. The furniture retailer, which entered India in 2018 with its first store in Hyderabad, will begin online operations in new cities including Chennai and Coimbatore before opening physical stores—a global first for IKEA. India sales rose 6% to about USD 205 million in the year ended August 2025, and the company plans to quadruple revenue while expanding its store count to 30 from six. Online sales currently contribute over 30% of total India sales and are targeted to reach 40%. IKEA also plans to double production for domestic stores and exports to USD 930 million, as it increases sourcing in India amid shifting global trade dynamics.
Source: Reuters
