Latest news with #PaOP
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Business Standard
3 days ago
- Business
- Business Standard
IKEA plans new India investment phase, stores in Chennai and Pune next
Swedish furniture giant IKEA, which entered the north Indian market on Wednesday with its first store in Delhi's Pacific Mall, is preparing to announce its next phase of investment in India after utilising its initial ₹10,500 crore allocation. New large-format stores are planned for Chennai and Pune, according to The Economic Times. The company will also continue rolling out smaller city stores, said Patrik Antoni, IKEA India's newly appointed Chief Executive Officer. 'The investment numbers will come together with the expansion plans. We are trying to nail it down and will be able to announce it in the coming months,' Antoni said. Ingka centres in Gurugram and Noida The Ingka Group, of which IKEA is a part, is investing over $7,500 crore to develop Ingka centres in Gurugram and Noida. These will feature both office and retail spaces alongside an IKEA store. The Gurugram and Noida centres are expected to open in 2026 and 2028, respectively. IKEA opens first store in Delhi IKEA's new outlet in Pacific Mall, Tagore Garden, spans over 15,000 sq. ft and offers more than 2,000 products on display, with around 800 available for immediate purchase. Earlier in April, the company opened its first 'Plan & Order Point' (PaOP) in India, in Bengaluru, where customers can get expert advice in planning their rooms or homes. Growth potential in the Indian market Antoni told PTI that IKEA sees growth potential in India over the next three decades, driven by economic growth, a demographic dividend, and young families entering the consuming class. The company aims to increase local sourcing from 30 per cent to 50 per cent over the next five years for its retail operations. Second phase of growth with omnichannel strategy According to Antoni, IKEA is now in its second growth phase in India, pursuing an omnichannel approach that combines large-format stores with smaller city outlets. Online sales currently account for about 30 per cent of the company's revenue.
The Hindu
01-05-2025
- Business
- The Hindu
‘Bengaluru by 2030 is expected to have a home furnishing potential of about ₹216 billion'
On Tuesday, April 29, there is feverish activity at the Essensai 067 Experience Centre on Whitefield-Hoskote Road. There is one day to go for Swedish home furnishings retailer IKEA to throw open its first 'Plan and Order Point' (PaOP) in India and the staff is busy adding finishing touches to the curated setups. The 740 sqm space is nowhere comparable in size to the flagship store in Nagasandra, but serves the retailer's aim to expand - both in format as well as geographically - to serve bustling East Bengaluru. There were a few curious customers who were already exploring the store when The Hindu was invited to take a sneak peek at the store. Pooja Grover, Country Expansion Manager, IKEA India, finds a green couch in a living room set up where a child is playing next to a kids' chair. 'We are four stores old in the country, and for a while we did not expand further. But now we have some plans to expand the physical stores. What we are focusing on is accessibility and convenience. Our main name in this phase of growth is to be accessible to many people. We wanted to be in the East for a very long time,' she said, as she explained the vision behind the PaOP. Purpose of new format Spanning 740 sqm, the new format, according to IKEA, serves as a dedicated customer meeting point, bringing expert home design knowledge closer to customers with personalised consultations, flexible planning support, and seamless installation services. The PaOP, Grover said, is comparable to a design planning studio in the local market. 'It gives you a personalised service for your home planning needs. You have the option of using one of our home furnishing consultants. You also have the option of doing it yourself. After the planning, the orders are placed and then you have the option of taking it online or having it delivered to your home or you can have a pickup option from here or you can have a pickup option from Nagasandra,' she explained. 'In terms of size, of course, Nagasadra is the mother store at 40,000 sq. mt store, while this is 740 sq. mt. In terms of articles, the mother store has 7000 plus articles. Here, we have quite a lot of articles displayed and we have a curated range for pickup. You will anyway have access to the full range by digital means. It's more like an omni channel approach what we're trying to explode and move towards the next phase of growth,' she said. On why Bengaluru was chosen to start the first such store, she said IKEA's focus is on the six cities - Hyderabad, Mumbai, Bengaluru, Delhi, Pune and Chennai. 'Bengaluru by 2030 is expected to have a home furnishing potential of about 216 billion INR. It's a huge growth market, along with Delhi. And it's one of our priority markets, so we are exploring to have quite a few of stores in various formats here. Why east of Bengaluru? It's the IT hub, and because of that, you have a lot of young professionals here who are well-travelled, diverse, and from all over the country. If you do a mapping of the residential hotspots, you can see there's huge amounts of residential catchments being added in the east along Hosakote and Sarjapur and these areas,' she further said. Asked if there are more such PaOPs in the pipeline, she said they are exploring options of other store sizes and formats and the the needs and choices will vary based on catchment and availability of real estate and various other factors. 'For example, in a residential hotspot, we will go for a PaOP like this, but if I have to open something in the centre of Bengaluru where there's hardly any new homes happening, there I might cater to the need with a small store which has cash and carry items and takeaways for your home refresh. So, we are trying to tailor the format to the local characteristics of that particular cluster,' she further said. Grover revealed that IKEA has more smaller stores planned in all the six cities. 'Pin code mapping' She also spoke of how the retailer caters to each city differently. 'We do our life at home studies and then we try and figure out what is the home size, how people live, how people work, what are their needs. To give a few examples, when we are doing our room settings, in Mumbai, it will be smaller than Bengaluru, while in Hyderabad, it will be larger. And now we have taken it a bit more to the specific needs of the clusters, now that in the existing markets, we have a better knowledge as to where our customers are buying, what they're buying. So we are taking it to the next level of catering to not only the city needs, but also going to a bit more to the pin code mapping and understanding what the cluster requires.' Asked if they have noticed a difference in needs of the Nagasandra store in comparison to the Whitefield one, she said in East Bengaluru, there are young professionals focussed towards storage, organising, and choices based on global travel. 'The family sizes differ, and there is also the owner-renter combination. Here (Whitefield) the homes are more rented, while there the homes are more owned,' she added. How markets compare Responding to a question on what IKEA's biggest learnings have been since they opened their first store in India in 2018 in Hyderabad, she said, 'In Europe and in other countries, it's the third generation of people who are exposed to the brand. Here, if you've traveled abroad, then you're aware of the brand, yes, but otherwise, it is the first generation. Second, from the needs perspective as well, our needs are very different from those of the European homes. So some of the products get tailored for those particular requirements as well.' Some of the cook shop range, for instance, is focused on the Indian home requirements such as pressure cookers, she said. 'We have plans to increase local sourcing to a substantial number in the next few years. There will be a lot of tailoring to the Indian homes' requirements in terms of function, colour, taste, etc,' she concluded.
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Business Standard
30-04-2025
- Business
- Business Standard
Ikea launches its first 'Plan & Order Point' service in India
Swedish multinational furniture company Ikea has announced the launch of its first 'Plan & Order Point (PaOP)' in India, at Bengaluru, where customers can avail expert's advice in planning their room or home, from layouts to product selections. This service will be available at its experience centre in East Bengaluru, spanning 740 square metres. This new format serves as a customer meeting point to bring personalised consultations, planning support, and installation services, it said in a release. Customers will have the option to choose their preferred level of service which could be a DIY (do-it-yourself) approach, guided planning, or complete end-to-end design and installation, with access to Ikea's entire home furnishing range. This new format is part of the broader expansion strategy of the Swedish firm. Susanne Pulverer, chief executive officer and chief sustainability officer at Ikea India, said, 'We are beyond excited to launch this new Ikea meeting point format in India. Bengaluru has been a strong growth market for us as the second biggest home furnishings market in India. With the new Plan & Order Point, we are strengthening our local presence and deepening our understanding of how people live at home. This is a strategic step in our continued investment towards scalable, omnichannel expansion in the region.' Customers begin by booking a free appointment, where Ikea specialists will help plan their room or entire home, from layouts to product selections. Once the design is finalised, orders can be placed on-site, with convenient options for home delivery, click & collect, or local partner pick-up. Options like assembling products themselves or opt for an assembly service from Ikea will be offered to customers. It will also offer a selection of products which will be available for immediate purchase. 'East Bengaluru is witnessing a surge in residential and commercial development, attracting a diverse population that is seeking well-designed, functional, and stylish homes. With deep insights on living situations gained through extensive home visits across the region, Ikea has studied how residents in the city live, their needs, and aspirations and has designed the PaOP to meet these local needs,' the company said in its release.
The Hindu
30-04-2025
- Business
- The Hindu
IKEA India's first ‘Plan and Order Point' opens in Bengaluru
Swedish home furnishings retailer IKEA opened its first Plan and Order Point (PaOP) in India, in Bengaluru, on April 30. Located at the Essensai 067 Experience Centre on Whitefield-Hoskote Road, it will serve consumers in east Bengaluru. The mother store is located at Nagasandra in north Bengaluru. New format Spanning 740 sqm, the new format, according to IKEA, serves as a dedicated customer meeting point, bringing expert home design knowledge closer to customers with personalised consultations, flexible planning support, and seamless installation services. According to the retailer, customers can choose their preferred level of service, whether it's a DIY approach, expert-guided planning, or complete end-to-end design and installation, with access to IKEA's full home furnishing range of over 7,000 products. Susanne Pulverer, CEO and Chief Sustainability Officer IKEA India, said, 'Bengaluru has been a strong growth market for us as the second biggest home furnishings market in India. With the new Plan & Order Point, we are strengthening our local presence and deepening our understanding of how people live at home.' How it works Customers begin by booking an appointment with specialists to help plan their room or entire home, from layouts to product selections. Once the design is finalised, orders can be placed on-site, with options for home delivery, click and collect, or local partner pick-up. Finally, customers can assemble their products themselves, or opt for an assembly service. Beyond these services, the PaOP will also feature a curated selection of products for immediate purchase for quick home refreshes. The new format is part of the broader expansion strategy of IKEA. Globally, the company operates 174 IKEA Plan & Order Points across various markets.
