IKEA store in Hyderabad. (Photographer: Sharleen Dsouza/ BloombergQuint)

Ikea To Launch E-Commerce Operations In India By March 2019

Swedish home furnishings retailer Ikea would commence its e-commerce operations in the country by March next year, Ikea India Chief Executive Officer Peter Betzel said Thursday.

“Ikea will create a multi-channel experience for its customers in India. It will launch e-commerce in Mumbai early next summer and introduce other touch points to bring the brand closer to customers,” Betzel told PTI.

Betzel, who attended the ground-breaking ceremony of Ikea’s third India store in Bengaluru on Thursday, said the company already had an online platform and was now in the process of connecting different platforms to maximise business prospects. Asked about the size of investment made in building the IT infrastructure, Betzel said: “Investments are going into fulfilment part.”

He said that Ikea was certainly looking at profitability by developing the business online with physical meeting points. “When Ikea will be profitable? I cannot tell now, but certainly we are aiming at profitability in coming years,” he added.

Talking about the Bengaluru store, Betzel said the 5 lakh square feet facility will be opened in summer 2020. The store is expected to attract more than 7 million visitors per year, he said.

Also read: Ikea to Focus on 30 Megacities for Future Small-Store Openings