• SENSEX
    NIFTY 50
VIDEOS
Business

Ikea's parent company Ingka Group says it has a long-term investment plan for India

Updated : November 24, 2020 08:21:41 IST

The COVID-19 pandemic outbreak and the resultant lockdown - one of the harshest in the world, may have hampered India's plan but Swedish furniture giant Ikea remains stead-fast in its India outlook.

Ikea's flagship store in Hyderabad, saw 50 percent year-on-year slump in footfall between September 2019 and August 2020.

However its website has cloaked over 25 million visitors during the same period.

Come 2021, Ikea is betting big on its omni-channel strategy to expand its presence in India.

Ikea's parent company Ingka Group has also reported its financial results for FY20 and despite the COVID outbreak the company has reported a net profit of 1.2 billion euros during this period.

To discuss the road ahead for the company, Shereen Bhan spoke to Juvencio Maeztu, CFO and deputy CEO of Inka Group.

Watch video for more.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you

Advertisement