How much does IKEA source from India and where do you want to see that by 2020?
We work with 50 suppliers and source goods worth about 300 million euros (a year). We want to at least double that.
You had issues with the labelling in the country and had raised concerns. What is the status?
We’re working with the government. We work in 40 countries, and if we put an additional maximum retail price label for India, we cannot sell the same product in other countries.
How will your Mumbai store be different from others?
In Mumbai, the type of housing is different. You have high-rises, where the sizes (of flats) are smaller and a lot of people live in these. So, we have to provide solutions for small-space living. For instance, we have to offer sofa-cum-beds, which work as a sofa during the day and a bed at nights, and tables with wheels, which can be moved around. Basically, these should be nice-looking rooms in the day and practically bedrooms in the night.
Where are the other stores coming up?
We plan to open in the National Capital Region, Pune, Bengaluru and others, but I can’t give details now.