- Tuesday, April 23, 2024
By: Pramod Thomas
SWEDISH furniture major IKEA plans to increase sourcing of toys from India as it targets around 12 per cent of sales from kids’ range of products in the coming years, a top company official has said.
IKEA India is now procuring only cotton-based soft toys from the country, now it is also exploring to buy wooden toys, said country commercial manager Kavitha Rao.
IKEA, which sells over 1,000 products under its children’s range, will partner with several players in the toy segment.
“Because we could be a large buyer and of course, it is contingent on meeting standards and design thoughts. We feel that there is a great
opportunity for us to come together with some potential suppliers as part of the player as well,” Rao told PTI.
“Our children’s range contributes around 6-8 per cent of sales currently, and we aim to reach 10-12 per cent in the near future.”
Besides toys, the range covers beds and mattresses specifically made for children, ergonomic storage and seating solutions made for a child, among others.
Recently, India government has created eight toy clusters with some significant investments in that space.
IKEA has been sourcing from India for its global operations for 35 years. It is working with around 60 suppliers. IKEA India
had opened its second retail store in Mumbai last December and is working on its next store in Bengaluru.
IKEA India had opened its first retail store in Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad and Pune.
