Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Portfolio

Loading...
Select Portfolio and Asset Combination for Display on Market Band
Select Portfolio
Select Asset Class
Show More
Download ET MARKETS APP

Get ET Markets in your own language

DOWNLOAD THE APP NOW

+91

CHOOSE LANGUAGE

ENG

  • ENG - English
  • HIN - हिन्दी
  • GUJ - ગુજરાતી
  • MAR - मराठी
  • BEN - বাংলা
  • KAN - ಕನ್ನಡ
  • ORI - ଓଡିଆ
  • TEL - తెలుగు
  • TAM - தமிழ்
Drag according to your convenience
ET NOW RADIO
ET NOW
TIMES NOW

Ikea to launch e-commerce operations in India by March 2019

PTI|
Oct 11, 2018, 06.12 PM IST
0Comments
Ikea
The company expected high number of online orders in coming days, he added.
Swedish home furnishings retailer Ikea would commence its e-commerce operations in the country by March next year, Ikea India Chief Executive Officer Peter Betzel said Thursday.

"Ikea will create a multichannel experience for its customers in India. It will launch ecommerce in Mumbai early next summer (March) and introduce other touch points to bring the brand closer to customers," he told PTI here.

Betzel, who attended the ground-breaking ceremony of Ikea's third India store here Thursday, said the company already had an online platform and was now in the process of connecting different platforms to maximise business prospects.

Asked about the size of investment made in building the IT infrastructure, Betzel said "investments are going into fulfilment part."

On whether online trade would be their focal point to generate revenues in coming days, Betzel said Ikea was looking at total integration of both platforms.

However, the company expected high number of online orders in coming days, he added.

Replying to a question when the company expects its venture to be profitable in view of fierce competition from e-retailer majors like Amazon and Flipkart-Walmart, Betzel said Ikea was certainly looking at profitability by developing the business online with physical meeting points.

"When Ikea will be profitable? I cannot tell now, but certainly we are aiming at profitability in coming years," he added.

Talking about the Bengaluru store, Betzel said the 5,00,000 sq ft facility will be opened in summer 2020.

The store was expected to attract more than 7 million visitors per year, he said.

The store will have parking space for around 2,000 vehicles and a 1,000seater restaurant serving Swedish and Indian delicacies, he added.
0Comments

Also Read

Inside India's e-commerce battle royale

CAIT calls for early introduction of e-commerce policy

CAIT calls for early introduction of e-commerce policy

Group of secretaries on e-commerce to meet on September 13

PepsiCo to focus on marketing and e-commerce for next league of customers

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Loading
Please wait...