Ingka Group, the parent of Swedish furniture major IKEA, said on Tuesday that it was open to more investment opportunities in India, especially in the renewable energy, environment, manufacturing, and sustainability space. When asked whether the company would invest in startups or bigger businesses here, Peter Betzel, IKEA’s India chief executive officer, said: “We have many plans in different countries, but in India, we are now looking at renewable energy. Everything connected to sustainability. Then we are also looking at manufacturing. We are looking at new raw material, and in new ways how we can produce our products.”

Publication: Mint

Date: December 4, 2019

Swedish furniture giant IKEA is optimistic about India’s potential, fuelled by its rapid urbanization and growing aspirations of its consumers, even though the country is currently facing consumption slowdown. The company has begun exploring the possibility of setting smaller-format stores and increase accessibility to its products through the online channel, with large-format stores expected to next come up in Mumbai and Bengaluru. In addition, it is looking to bring its Ingka Shopping Center format to India.

Publication: The Hindu Business Line

Date: December 4, 2019