IKEA India intends to cut prices by a third by utilising locally sourced materials for its furniture.
Since entering the Indian market in 2018, the homeware giant has been using wood imported from Europe in the creation of its produce and the prices of their products reflects this. IKEA India now proposes that it provide an economical solution by sourcing wood including sheesham and bamboo locally to lower their product prices in certain categories including chairs, toys, sofa and bookshelves.
“Local sourcing remains a key driver of affordability and over a third of the products under new lower prices are made in India.” said Kavitha Rao, Country Commercial Manager of IKEA India.
The company has reported that it has increased its local sourcing from single digits to around 20 per cent for certain products.
