Juvencio Maeztu, Deputy CEO and CFO at Ingka Group and IKEA, described IKEA restaurants as an attraction where families can have a family day out in addition to indulging in furniture shopping in an exclusive interview with CNBC-TV18.

IKEA has made big commitments as it seeks to more than triple its operations in India. Juvencio Maeztu, Deputy CEO and CFO at Ingka Group and IKEA, spoke exclusively with CNBC-TV18 about his love of food and how IKEA restaurants attract customers to its stores, making it enjoyable for families to buy for furniture.

Maeztu stated that “India loves food and India loves IKEA food” in an interview with CNB-TV18. In India, we obtain about 99% of the food we sell locally. The cost is tremendous. The price range for samosas and ice cream is between Rs. 10 and 15, which is amazing. We don’t have a plant-based agenda. Our food is already more than one-third plant-based, and that number will rise to 50%. Therefore, it has the same price but has a significantly lower carbon impact, which is appropriate for India.

“IKEA restaurants are a visitation driver, not because consumers are hungry at IKEA. IKEA is frequented by shoppers looking for food and occasionally furniture. So it is an enjoyable day out. That is why we are creating both; it’s more than just an online shopping experience; it’s a great day out. We offer solutions to meet needs and fulfill fantasies rather than actual things. In other words, when you visit an IKEA shop, you need dreams, you discover solutions, and it’s also a great family outing.

“As I go to many different nations throughout the world, I was discussing with a friend what my top 10 favorite types of food are, and three of them are from India. The one that could surprise you the most is dal, which is my top menu item and is available for Rs 100 in a metal plate in a very small restaurant near the Golden Temple in Amritsar.

Maeztu emphasized India’s enormous potential when discussing IKEA’s aspirations for the market, saying that the country “has a fantastic opportunity to be a manufacturing hub for the entire world, with the value of sourcing estimated to be more than Rs 5,000 crore.” The company may double, according to him.

In 2020, IKEA opened a global operations center in Bengaluru, claiming that it would serve as the hub for operations, innovation, and digital development. Maeztu pointed out that the Bengaluru organization exports financial, digital, and human resources services.

This hub is creating digital capabilities in India that are being used in India and other countries as part of its digital strategy, according to Maeztu. Maeztu continues, “The new development of the ‘app of the future’ is also happening here to make shopping a’seamless and fester’ process.” “So that’s how the digital hub in Bangalore is feeding IKEA’s global operations.”

Topics #Amritsar #Bengluru #CEO #CFO #CNBC-TV 18 #food #Furniture #Furniture brand #Furniture Company #IKEA #India #Indian Food #news