New Delhi: Ingvar Kamprad Elmtaryd Agunnaryd (IKEA), invites its investment firm Ingka Investments to India. With this move, the company is showing that it prioritises India, a senior official of the firm disclosed the information.
The sectors which are considered by Ingka Investments are renewable energy, recycling, real estate and software, which could enhance IKEA by expanding its retail business.
As for now, IKEA’s investment arm has invested in just one startup in India, Livspace, for minor equity.
The move is in accordance with Ingka’s decision to finally approve the second phase of expansion this year. In the year 2012, the furnishing company’s investment arm assured investment worth Rs 10,500 cr in the country.
About Ingka
Ingka Investments holds over 20 billion euros of financial assets under management across the globe. Along with this initiative, Ignka Group will set up its business in India; IKEA Retail, Ingka Centers and Ingka Investments.
Currently, the group runs 482 IKEA stores in 31 countries.
Mumbai already has Ingka Group’s few small city stores, the stores that are also present in Hyderabad, Bengaluru and Navi Mumbai in their first phase. With this, Ikea delivers orders in Pune, Surat and Vadodara. Ikea group is also making investments worth $ 900 million in two Ingka centres which will be shopping centres near IKEA stores in Noida and Gurgaon.
The shopping centres are anticipated to be operational in 2 years. The group sources its products from India through its 65 partners.
Ingka Investments already signed a purchase agreement to take control of the prime real estate in Paris after investing 130 million euro.
