• 11 months ago
Here's how #INGKAGroup is planning to handle the pricing of #IKEA goods in India.


Watch Deputy CEO and CFO Juvencio Maeztu discuss this and more, in conversation with Niraj Shah. #Davos2024


Read all #WEF2024 updates: https://bit.ly/420ODMW

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Transcript
00:00 Then in the times we are in, we have to side with the many people.
00:04 That's why for us it's so important to really grow,
00:07 because the base to offer low cost is to have more volume.
00:12 And this is what is happening in India now.
00:14 After opening in Delhi, sorry, in Mumbai, in Hyderabad, in Bangalore,
00:19 and now we are now expanding to other territories,
00:23 then this is a time where we can create the volume.
00:27 And we can create the volume in two ways.
00:30 The first one, by creating more IKEA in India.
00:33 That's why we need and we want to open more IKEA stores,
00:37 and also to expand online.
00:39 And the second way is by having,
00:42 working together with the government of India
00:44 to have harmonization of standards.
00:47 We welcome very much the Indian government direction
00:52 to increase the quality,
00:54 and then this is a moment where we can harmonize
00:57 with international standards,
00:59 so we can use the Grand Haff India as a big sourcing hub,
01:03 production hub to export to other places in the world.
01:07 So by having more IKEA in India,
01:10 and by having more production in India with harmonized standards,
01:13 we can create the volume,
01:15 and with higher volume we reduce the price for the many people in India.
01:20 (upbeat music)
01:22 (upbeat music)
01:25 (upbeat music)
01:28 (dramatic music)

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