Ikea is doubling down on its India expansion with a new $2.2 billion investment, Ikea India CEO Patrik Antoni told Inside Retail Asia. The company has already exceeded the $1.1 billion commitment it made in 2013, Antoni said.
The new investment will fund the opening of additional stores and expansion of omnichannel capabilities across the country. Ikea currently operates multiple stores in India, including in Hyderabad, Mumbai, and Bengaluru, and plans to accelerate its presence in tier-2 and tier-3 cities.
India is a key growth market for the Swedish furniture giant, which sees rising demand from a young, urbanizing population. The investment underscores Ikea's long-term commitment to the region despite global economic uncertainties.