Ikea has been planning to double its sourcing from the Indian market to 600 million euro by 2020 and is going to start work on its second store in the country in Navi Mumbai next month.
The company sources products worth 318 million euro from India.
According to Henrik Gunnerling, purchase development manager, Ikea range and supply, “Ikea works on the principle of optimal sourcing for our global markets. Where it makes sense, we will source locally as well. We currently source products worth 318 million euro from India and will almost double this by 2020 to around 600 million euro.”
SOURCE & CREDITS: EQUITYPANDIT.COM
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