We have invested about Rs 7, 000 crore in India: Ikea's Preet Dhupar With Ikea India's second store set to launch in Navi Mumbai on December 18, CFO Preet Dhupar gives insights into home office trends, and the company's expansion plans for the Indian market
Naini is a writer at Forbes India, who likes to dabble in storytelling across all forms of media. She writes on various topics ranging from innovation and startups to cryptocurrency and agriculture—anything and everything that makes for an interesting story. Before her stint at Forbes India, she worked for close to a year at Outlook Business. With five years of work experience, she co-produces Forbes India’s video series “From The Field†and hosts the podcast “Teenpreneursâ€. She also emcees at events and moderates panel discussions from time-to-time. Naini is a part of Forbes India’s digital team, also handles Forbes India’s Instagram account and helps plan events. An avid learner, she has completed her PGDM in Journalism from Xavier Institute of Communication and Bachelor’s of Mass Media from Sophia College for Women in Mumbai. Be it at work or home, you will not find her working without her headphones and work playlist. She loves trekking and travelling, experimenting in the kitchen, watching films and reading.
We have been available online in Mumbai for almost a year and launched a store in Navi Mumbai on December 18. When you look at the online business, we've had an extremely positive response from the people of Mumbai. We hope that as the health scenario improves, more people will be able to visit the store. By FY21, we are hoping to see 5 million visitors in our Navi Mumbai store, annually. With the launch happening right in the middle of the pandemic, our first priority will be ensuring the safety and security of our customers and co-workers. We are doing this via a registration process—for people to visit the store—wherein they need to pick the date and tell us the number of people they are coming with.
We Have Invested About Rs 7,000 Crore In India: Ikea's Preet Dhupar
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India has been an important part of our global supply chain for over 35 years, especially as an important source of rugs, carpets and textiles. It took time to build the supply chain in the country. In the last five years, since retail has stepped in, we've stepped up our capability in other categories. Some of our best-selling mattresses are now made in India and we have introduced sofas that are made in India. One category that we are working on is solid board and board-based material, but it will take some time. Therefore, we believe that we will make a positive contribution to the growth of the furniture and the home furnishing industry in India.
We are seeing a huge increase in demand in our category of workspaces, including desks and chairs for home offices. In addition to this, we are noticing people need to do a lot of reorganisation of their homes, since parents are working from home and kids are studying from home too. Therefore, we are seeing a lot of uptake in categories like kitchenware, storing and organising, and also the outdoor furniture category. During this tough time, home became a sanctuary for all of us. We have been offering ideas, solutions and inspirations to re-do your home. For instance, how to create a more interesting dining experience or how to re-do your balcony.
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When we first came in, the initial investment figure that we quoted to the government was ₹10, 500 crore. So far, we have invested about ₹7, 000 crore in stores and the logistics network in India. The only thing that the pandemic and the lockdown did was slow down our work, but we have a long-term plan for the Indian market and Covid hasn't impacted our investment plans at all.
We have two additional smaller stores opening in Mumbai soon. Globally, as well as in India, we will be in the market with different formats of stores, large as well as small. Our Bengaluru store is under construction, we have also acquired land in Gurugram and are in the process of land acquisition in Noida. So, Noida and Gurugram are going to be two large projects.
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The purchasing power of people has increased considerably over the decades. Well-designed homes with aesthetic interiors have become the norm of the day for several individuals. This has brought about a phenomenal increase for interior designers. You can find an interior designer with wide-ranging skills from lighting to wooden flooring and steel-based walls to high ceilings. Many students have now made a foray into this career, which is proving to be very lucrative. Many wonder how much do interior designers earn in India ? Like medicine and engineering, this profession also has its specialisation departments, which makes the average salary of interior designers in India vary accordingly. However, the starting salary of an interior designer in India amounts to about ₹ 4 lakhs a year. It could even exceed this amount depending on the city where the interior designer starts his career. Today, the pursuance of this career is well complemented by technology. Almost all interior designers resort to multimedia, 3D modelling, computer visualisation, and graphic designing, among other techniques, to conceptualise and create out-of-the-box interiors across spaces.
The happiness quotient of interior designers is 3.5 on a scale of 1-5, and according to this rate, their happiness is above average.
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The salary of an interior designer in a city like New Delhi or Mumbai far exceeds the salary of an interior designer in smaller cities like Pune or Hyderabad. The reasons are varied. The number of uber-rich in metros is higher than those in 2 and 3-tier cities.
In cities like Mumbai and Delhi, the SEC A segment of society is more style-conscious and has its purses full of splurging on interiors. While the profession may sound glamourous to many, it involves much hard work, focus, detailing and creativity. You need to have a creative bent of mind, whether it is flirting with colour nuances or understanding spaces and what could enhance them.
Today, people have become more aligned towards having eco-friendly interiors, which calls for a deep insight into how to maintain comfortable temperatures inside while retaining the visual appeal of the exteriors. You have to be highly skilled in understanding the materials, their quality, durability, and minutest details that could make a world of difference to the interiors.
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The average salary of an interior designer in India is dependent on the organisation and the city of work. The average salary of an interior designer in India with experience of a couple of years is about ₹19 lakhs per year. For someone with about 4-6 years of experience, the interior designer's salary per month in India could be about ₹24 lakhs per annum. Established interior designers earn ₹43-45 lakh s per annum.
The average interior designer salary in Mumbai is about ₹24 to 25000 per month for someone who has only 1- 3 years of experience. This is at least 8% more than the average salary of a senior interior designer in Mumbai could vary between ₹55-60000 per month. The salaries in Mumbai are dependent on the organisation as well. Small start-ups pay only ₹12-13000 per month for entry-level interior designers, whereas the bigger corporations pay at least ₹24-25, 000 to entry-level interior designers. However, the salary for this profession is at least about 8 – 10 % more than the national average. In addition to the salary, these professionals stand to earn at least one month’s bonus every year.
The salary of an interior designer in Bangalore starts at ₹24-25, 000 per month for someone with experience of less than a year. Depending on the organisation, this could increase to ₹30-35, 000 per month. Mid-level and senior-level interior designers earn at least ₹50, 000 – ₹1, 00, 000 per month. Once known as the garden city of India, Bangalore is now better known as the IT city of India, and it has an interesting gentry which works in some of the most globally renowned organisations like Infosys, Wipro, Amazon, and even Google. This economic section of society chooses to live in homes with exclusive interiors. This has increased the demand for creative interior designers. These global organisations are also reputed for paying handsome bonuses
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