Latest news with #ChristinaNiemelaStrom
Time of India
4 days ago
- Business
- Time of India
IKEA to amplify sourcing from India for global operations, to increase local sourcing to 50%
India is a "focus market" for the Swedish global home decor and furniture retailer IKEA, where it is increasing sourcing for its global operations and increasing local sourcing to 50 per cent, from the current 30 per cent, for the domestic retail business, a top company official said. The move will help to cater local retail and global operations, and will also generate more jobs across the supply chain, said Christina Niemela Strom, Head of Sustainability for Supply, Inter IKEA Group . India is "in the top 10 of our sourcing countries" list, from where it is procuring products worth around 400 million euros for its global retail operations, Strom told PTI in an interaction. IKEA's current sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. "Our aim to source more product categories such as sofas, mattresses and storage furniture from the country now,' said Strom, adding "Inter IKEA Group has identified India as a focus market this year and we aim to increase local sourcing (from 30 per cent to 50 per cent), create products from India to cater to local and global customers and generate more jobs across the supply chain." Presently, Europe is IKEA's biggest supplier, followed by America and Asia, in which China leads. IKEA has been sourcing from India for the last five decades, though it started its retail operation in India in 2018 by opening its first store at Hyderabad, followed by Navi Mumbai and Bengaluru and several others such as Delhi NCR, are in the execution pipeline. "We have had a love affair with India...," she said, adding, "India will remain important for us". According to Strom, IKEA Group is here "for the long term" and already has "a very big belief" in the country. "We have suppliers that we have worked with since the start," she said, adding, "we grow together. I think also the growth for IKEA in India is also happening when India is growing and developing." IKEA, which is working with 1.10 lakh farmers here for sustainable sourcing of cotton, helping them with practices such as reducing usage of pesticides, fertiliser and water. "Well, it means for the farmer also that they actually get higher yields by this. So they get more money in their pockets, and we get a better product. So here sustainability is not driving cost, said Strom, while responding to a query as to whether these sustainable practices increase the cost. Through its supply business, IKEA has close to 1,00,000 coworkers at direct suppliers in India and around 2,70,000 at tier 2 suppliers. "Today, more than 1,10,000 farmers have adopted more sustainable farming practices within IKEA projects. The cotton used at IKEA comes from virgin cotton certified by our approved schemes," she said, adding IKEA is committed to halving emissions by 2030 and becoming net-zero by 2050. Inter IKEA Group is the group of companies that connects IKEA franchisees with range development and suppliers, and aligns the overall IKEA strategic direction. The Group includes Inter IKEA Systems BV - the worldwide IKEA franchisor - as well as range development, supply and certain industry activities.
Economic Times
4 days ago
- Business
- Economic Times
IKEA to amplify sourcing from India for global operations, to increase local sourcing to 50%
India is a "focus market" for the Swedish global home decor and furniture retailer IKEA, where it is increasing sourcing for its global operations and increasing local sourcing to 50 per cent, from the current 30 per cent, for the domestic retail business, a top company official said. The move will help to cater local retail and global operations, and will also generate more jobs across the supply chain, said Christina Niemela Strom, Head of Sustainability for Supply, Inter IKEA Group. India is "in the top 10 of our sourcing countries" list, from where it is procuring products worth around 400 million euros for its global retail operations, Strom told PTI in an interaction. IKEA's current sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. "Our aim to source more product categories such as sofas, mattresses and storage furniture from the country now,' said Strom, adding "Inter IKEA Group has identified India as a focus market this year and we aim to increase local sourcing (from 30 per cent to 50 per cent), create products from India to cater to local and global customers and generate more jobs across the supply chain." Presently, Europe is IKEA's biggest supplier, followed by America and Asia, in which China leads. IKEA has been sourcing from India for the last five decades, though it started its retail operation in India in 2018 by opening its first store at Hyderabad, followed by Navi Mumbai and Bengaluru and several others such as Delhi NCR, are in the execution pipeline. "We have had a love affair with India...," she said, adding, "India will remain important for us". According to Strom, IKEA Group is here "for the long term" and already has "a very big belief" in the country. "We have suppliers that we have worked with since the start," she said, adding, "we grow together. I think also the growth for IKEA in India is also happening when India is growing and developing." IKEA, which is working with 1.10 lakh farmers here for sustainable sourcing of cotton, helping them with practices such as reducing usage of pesticides, fertiliser and water. "Well, it means for the farmer also that they actually get higher yields by this. So they get more money in their pockets, and we get a better product. So here sustainability is not driving cost, said Strom, while responding to a query as to whether these sustainable practices increase the cost. Through its supply business, IKEA has close to 1,00,000 coworkers at direct suppliers in India and around 2,70,000 at tier 2 suppliers. "Today, more than 1,10,000 farmers have adopted more sustainable farming practices within IKEA projects. The cotton used at IKEA comes from virgin cotton certified by our approved schemes," she said, adding IKEA is committed to halving emissions by 2030 and becoming net-zero by 2050. Inter IKEA Group is the group of companies that connects IKEA franchisees with range development and suppliers, and aligns the overall IKEA strategic direction. The Group includes Inter IKEA Systems BV - the worldwide IKEA franchisor - as well as range development, supply and certain industry activities.
Time of India
4 days ago
- Business
- Time of India
IKEA to amplify sourcing from India for global operations, to increase local sourcing to 50%
India is a "focus market" for the Swedish global home decor and furniture retailer IKEA, where it is increasing sourcing for its global operations and increasing local sourcing to 50 per cent, from the current 30 per cent, for the domestic retail business, a top company official said. The move will help to cater local retail and global operations, and will also generate more jobs across the supply chain, said Christina Niemela Strom, Head of Sustainability for Supply, Inter IKEA Group . India is "in the top 10 of our sourcing countries" list, from where it is procuring products worth around 400 million euros for its global retail operations, Strom told PTI in an interaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Davao City : SUV Clearance Sale, Click Here To See Prices SUV Deals | Search Ads Search Now IKEA's current sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. "Our aim to source more product categories such as sofas, mattresses and storage furniture from the country now,' said Strom, adding "Inter IKEA Group has identified India as a focus market this year and we aim to increase local sourcing (from 30 per cent to 50 per cent), create products from India to cater to local and global customers and generate more jobs across the supply chain." Live Events Presently, Europe is IKEA's biggest supplier, followed by America and Asia, in which China leads. IKEA has been sourcing from India for the last five decades, though it started its retail operation in India in 2018 by opening its first store at Hyderabad, followed by Navi Mumbai and Bengaluru and several others such as Delhi NCR, are in the execution pipeline. "We have had a love affair with India...," she said, adding, "India will remain important for us". According to Strom, IKEA Group is here "for the long term" and already has "a very big belief" in the country. "We have suppliers that we have worked with since the start," she said, adding, "we grow together. I think also the growth for IKEA in India is also happening when India is growing and developing." IKEA, which is working with 1.10 lakh farmers here for sustainable sourcing of cotton, helping them with practices such as reducing usage of pesticides, fertiliser and water. "Well, it means for the farmer also that they actually get higher yields by this. So they get more money in their pockets, and we get a better product. So here sustainability is not driving cost, said Strom, while responding to a query as to whether these sustainable practices increase the cost. Through its supply business, IKEA has close to 1,00,000 coworkers at direct suppliers in India and around 2,70,000 at tier 2 suppliers. "Today, more than 1,10,000 farmers have adopted more sustainable farming practices within IKEA projects. The cotton used at IKEA comes from virgin cotton certified by our approved schemes," she said, adding IKEA is committed to halving emissions by 2030 and becoming net-zero by 2050. Inter IKEA Group is the group of companies that connects IKEA franchisees with range development and suppliers, and aligns the overall IKEA strategic direction. The Group includes Inter IKEA Systems BV - the worldwide IKEA franchisor - as well as range development, supply and certain industry activities.
Time of India
20-05-2025
- Business
- Time of India
Ikea looking at India to boost global play
At a time when companies worldwide are rethinking their supply chain strategies amid threats of disruption posed by tariff uncertainty, Swedish home decor and furniture retailer Ikea is bolstering its bets on India as a sourcing market for its global and local operations. The company, which has a network of about 40 home furnishing suppliers in the country, is trying to increase sourcing from India "wherever it can" and is looking to add new suppliers as it scouts for more opportunities, said Christina Niemela Strom, (global) head of sustainability for supply, Inter Ikea Group. In an interview with TOI on Monday, Strom said that Ikea's plan to boost local sourcing in India from 30 per cent to 50 per cent by 2030 also opens up scope for the company to expand global sourcing from the country. "Our supply footprint has to be resilient for what happens, and we see that India has to play a big role in that as well. We are here for the long term. The goal spoken (50 per cent target) is for local produce, but that will for sure also bring in opportunities for going global," Strom explained. Ikea's purchases from India stand at around 400 million Euros in 2024, and global sourcing makes up a big part of it, given that it started retail operations in India only in 2018, Strom said. The company has been sourcing from India for close to 50 years, and it already counts India as among its top 10 global sourcing markets. Ikea largely ships out ready-made goods from India, which include curtains, rugs, and bed linen. "We are monitoring the US-India FTA developments closely. Trade has an influence, and we try to make the most of it," Strom insisted. Beyond sourcing, Ikea could also look at introducing new product segments in India and then take them global. "Made in India is good," Strom said while talking about the appeal of Indian-made goods in global markets. Ikea started retail operations in India with its first store in Hyderabad in 2018 and is currently present in more than 10 cities through a mix of offline and online stores. Europe is Ikea's biggest supply region, followed by Asia and the Americas. Most of what Ikea sells in the US is manufactured in other countries, including China. Despite high commodity inflation in India over the past few quarters, Ikea didn't raise product prices in the country, Strom said. "Given the broader slowdown we have seen, home furnishing is not the first thing buyers will think of, and so we have to make sure we remain affordable. Value for money is important to us, and we have rolled back the price hikes we took during Covid," Strom added.
Time of India
19-05-2025
- Business
- Time of India
Ikea looking at India to boost global play
MUMBAI: At a time when companies worldwide are rethinking their supply chain strategies amid threats of disruption posed by tariff uncertainty, Swedish home decor and furniture retailer Ikea is bolstering its bets on India as a sourcing market for its global and local operations. Tired of too many ads? go ad free now The company, which has a network of about 40 home furnishing suppliers in the country, is trying to increase sourcing from India "wherever it can" and is looking to add new suppliers as it scouts for more opportunities, said Christina Niemela Strom, (global) head of sustainability for supply, Inter Ikea Group. In an interview with TOI on Monday, Strom said that Ikea's plan to boost local sourcing in India from 30% to 50% by 2030 also opens up scope for the company to expand global sourcing from the country. "Our supply footprint has to be resilient for what happens, and we see that India has to play a big role in that as well. We are here for the long term. The goal spoken (50% target) is for local produce, but that will for sure also bring in opportunities for going global," Strom explained. Ikea's purchases from India stand at around 400 million Euros in 2024, and global sourcing makes up a big part of it, given that it started retail operations in India only in 2018, Strom said. The company has been sourcing from India for close to 50 years, and it already counts India as among its top 10 global sourcing markets. Ikea largely ships out ready-made goods from India, which include curtains, rugs, and bed linen. "We are monitoring the US-India FTA developments closely. Trade has an influence, and we try to make the most of it," Strom insisted. Beyond sourcing, Ikea could also look at introducing new product segments in India and then take them global. Tired of too many ads? go ad free now "Made in India is good," Strom said while talking about the appeal of Indian-made goods in global markets. Ikea started retail operations in India with its first store in Hyderabad in 2018 and is currently present in more than 10 cities through a mix of offline and online stores. Europe is Ikea's biggest supply region, followed by Asia and the Americas. Most of what Ikea sells in the US is manufactured in other countries, including China. Despite high commodity inflation in India over the past few quarters, Ikea didn't raise product prices in the country, Strom said. "Given the broader slowdown we have seen, home furnishing is not the first thing buyers will think of, and so we have to make sure we remain affordable. Value for money is important to us, and we have rolled back the price hikes we took during Covid," Strom added.
