FIPB snips Ikea’s Indian bouquet
“Our stores retail a whole range of products like furniture, office stationery, cosmetics and food items, all falling under the single-brand retail category. If the government strikes down more than half of the items we want to retail without any discussions with us, it surely creates an uncertain situation for the company,” an official aware of the development said. All the products for which Ikea had sought approval are manufactured by the company and retailed under its brand name. “We are a complete solutions store and curtailing our product list amounts to allowing us to sell a car but not the tyres meant for them,” the official said.
Going by FIPB’s clearance, Ikea, which has a presence in 38 countries and earns revenues of approximately 27.5 billion euros, cannot retail home and office use products, solutions, fittings, furnishings and accessories including stationery. Also ruled out are textile products including apparel, fabrics, toys, books and gadgets, consumer electronics and accessories, decorative and leather products. Other restricted items include products and accessories for children, safety-related products, cosmetics and lifestyle products.
Be the first to comment.