IKEA, the Swedish furniture giant, is on the outlook for a creative agency in India. The pitch process is underway in Bengaluru. Sources close to the development have confirmed the news to Storyboard18. Independent shops and agencies from global network companies are participating in the pitch process in two rounds. Dentsu Creative in India has been working closely with the brand for its creative campaigns.
Recently, the retailer announced a price cut ranging from 16 to 39 percent across categories in India. With this move, the company aims to make home furnishings more affordable and accessible for the Indian market.
Currently, IKEA has stores in Hyderabad, Navi Mumbai, and Bengaluru and is online in Mumbai, Pune, Hyderabad, Gujarat, and Bengaluru. The company also has plans of entering the Chennai market.
For the Indian market, the Swedish firm plans to invest Rs 10,500 crore. During FY22, IKEA in India continued to work on its plans towards positioning, growth and profitability of IKEA's omni-channel business in India. The Swedish furniture retailer also has plans to open small city outlets along with its mega format stores in India with of course strong online presence. The company is tweaking its strategy in the wake of changing consumer behaviour. Last year, interestingly during the festive quarter, Ikea India launched a campaign titled Ghar Aajao. Through the campaign, the company is encouraging people to visit their stores to get the IKEA experience.