With textile making upto 70 per cent of the exported volume, the Sweden-based IKEA continued its support to cotton farmers in India through skill development, seeds selection, harvesting, water management, less use of chemicals and pesticides and marketing.
Set up in 1943, the IKEA business idea supports the vision by offering a wide range of well-designed, functional home furnishing products with a minimum price range. It has currently 361 stores in 41 countries.
With 2014 ‘being a good year’ for its increasing growth and profit, IKEA had taken up several expansion plans in the backdrop of improved market condition following strong performance in China and North America and an upward trend in Europe. “We have an ambitious growth agenda and at the same time are determined to have a positive impact on people and the planet”. The group gained market share in almost all markets and entered a new country Croatia. The largest markets in terms of sales were Germany, US, France and the UK, according to a IKEA press release.