HYDERABAD : Local sourcing and customising products for the Indian customer are at the core of their business and vision, said Peter Betzel, IKEA India’s new CEO, at an informal meet and greet event at the Swedish retail brand’s premises on Wednesday. All set to open on July 19 to the public, the global home furnishings brand has customised products to suit the Indian market. The CEO and his team spoke about how they had made over 1,000 home visits to understand the ‘needs, dreams and frustrations’ of Indian households and have designed the products accordingly.
The IKEA team spoke about how only the Hyderabad store will stock lunch boxes as it is an important part of the Indian lifestyle. “We know that Indians eat with their fingers and therefore we have not included butter knives in the cutlery set which comprises spoons and forks. In other countries, we sell it as a package, but at the local store, it is optional,” the team said.
Without quoting any figures, the CEO also said he was expecting a lion’s share of the market from online shopping. He also said that about 20 percent of their 7,500 different products are locally sourced and made a mention of using local bamboos for their products. To be open seven days a week at Gachibowli from 10 am to 11 pm, the brand is looking at providing affordable and quality products necessary for every Indian house. Answering a question on whether their strategy to offer competitive rates to the public will be a sustainable value, the CEO remarked, “What is good for the people should be good for our business too.”