IKEA targets 25 new stores across India over next five years

Over $1.03b has already been invested in the Indian market.

IKEA is ramping up its expansion in India, announcing plans to open 25 small- and medium-sized stores across the country over the next five years, a move expected to create hundreds of jobs and deepen its footprint in one of its fastest-growing markets.

The expansion will be complemented by the development of large-format stores near New Delhi, with Gurugram set to open first, followed by Noida. These projects form part of a broader strategy by Ingka Group to strengthen its retail presence in the country.

The announcement comes as IKEA continues to invest heavily in India, having already committed more than $1.03b (€900m). Most recently, the company opened its sixth Indian store in Pune on March 12. The 3,000-square-meter outlet attracted large crowds, many experiencing the brand for the first time while exploring popular items such as the BILLY bookcase and KALLAX shelving unit.

“India is one of our most important markets globally, and we are putting even greater focus on it as a place for growth,” said Javier Quiñones, Global Commercial Manager at Ingka Group (IKEA), noting that the country’s home furnishing market is projected to grow by 50% by 2030.

In addition to physical expansion, IKEA is also strengthening its digital reach. Online delivery services have recently been launched in Tamil Nadu, giving access to around 10 million potential customers in the southeastern state.

The India push is part of Ingka Group’s wider $5.74b (€5b), three-year global investment plan aimed at opening new stores and upgrading existing locations across its 32 markets.