Timber Industry News
Swedish furnishings company, IKEA, which has a variety of over 1,000 products as part of its children’s section, is looking to scale up sourcing of toys from India for its operations here, said a top company official.
Besides, IKEA India is also aiming to have around 12 per cent of sales from kids’ range of products in the coming years.
IKEA India Country Commercial Manager Kavitha Rao said the company, which currently sources only cotton-based soft toys from India, is now exploring to expand in some other categories such as wooden toys. In India, 80 per cent of households live with children.
IKEA, which participated in the India Toy-Fair, said it is exploring opportunities to partner with several players. The toy segment is a big focus area of the company.
In August 2019, the government amended the provision related to goods produced in the country. By stating that all procurements made from India by a single-brand retailer for that brand shall be counted towards local-sourcing. It is viable regardless of whether the goods procured are sold in India or exported.
IKEA has been sourcing from India for its global operations for close to 35 years. It is working with around 60 suppliers. IKEA India had opened its second retail store in Mumbai last December.