IKEA to increase cotton sourcing from India, gears up to start retail operations – Feedback

Swedish furniture major IKEA is increasing sourcing of cotton from India for its textile requirements as it gears up to start retail operations there by next year.

The company, which is working with around four lakh farmers in India through local partners under its better cotton initiative (BCI) programme, is sourcing almost one-third of its global requirements from India. “Till now, IKEA retail was not present in India. Given the retail plan which we have till 2025, obviously sourcing of sustainable textiles from India would increase dramatically even for the local market,” IKEA Cotton Leader Pramod Singh said. IKEA, which is planning 25 stores in India by 2025, had sourced goods worth 315 million euros from India, in which textiles contributed around 70 per cent. While he did not share details of cotton sourcing, in 2015, the company had sourced around 35 per cent of its cotton from India followed by Pakistan at 21 per cent.

http://economictimes.indiatimes.com/industry/services/retail/ikea-to-increase-cotton-sourcing-from-india-gears-up-to-start-retail-operations/articleshow/52685629.cms

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