IKEA in No Rush to Open India Stores - India Real Time - WSJ

The new India chief of Swedish furniture giant IKEA Group says the company is not in a hurry to open its first store in the country. IKEA’s priority, said Juvencio Maeztu, is to get a better feel for the market first.

“At this point of time we have many questions about the Indian market. We need to get information. We have to be humble and we have to listen,” said Mr. Maeztu in his first interaction with the Indian media since IKEA announced its foray into India in June.


“I spent a fantastic week in May meeting people in their homes. I wanted to get a flavor of the Indian market. I wanted to try and understand how they live, what they need,” said Mr. Maeztu, 44, told reporters in Mumbai. An economist by training, he spent 12 years working for IKEA in Europe before being appointed as country manager for India.

He declined to answer questions on when or where the Swedish company is likely to open its first store here. “We are in the process of getting an approval. We need to wait for it first,” said Mr. Maeztu.

IKEA in No Rush to Open India Stores - India Real Time - WSJ