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IKEA looks to source products from TS
IKEA looks to source products from TS. IKEA, a leading global player in home furnishings, on Monday organised ‘Make More in India’ seminar in the city, with an aim of identifying potential suppliers in Telangana.
Hyderabad: IKEA, a leading global player in home furnishings, on Monday organised ‘Make More in India’ seminar in the city, with an aim of identifying potential suppliers in Telangana. Swedish giant, which is set to make its Indian foray by establishing manufacturing and retail operations in the city, is looking to source several products locally in categories such as sofas, book shelves and mattresses as well as products made in new sustainable materials such as bamboo, mango, jute and other natural fibres.
The seminar, organised in collaboration with the Telangana Government, was attended by more than 80 local suppliers. This was the third such seminar held by IKEA in India following seminars in Mumbai and Bangalore in January this year. “Hyderabad is one of our prioritised markets, both in terms of setting up retail stores and growing the sourcing base. As IKEA is planning to open retail stores, we look at how we will holistically grow our business in India.
We are very excited about the opportunity that Telangana offers and the strong commitment for growth in all dimensions”, said Juvencio Maeztu, CEO, IKEA India. At present, IKEA sources $370 million worth of products and materials from India, and plans to double its sourcing by 2020. The company works with around 50 suppliers in the country, which engage nearly 400,000 co-workers directly and indirectly.
