Ikea, the multichannel Swedish home furnishing retailer, has appointed Leo Burnett India as its creative agency on record. Highly-placed industry sources confirmed the development to BestMediaInfo.com, adding that the final paper work is still in process.
The account was won following a multi-agency pitch that saw participation from more than 15 agencies.
The incumbent agency on the account is Dentsu Creative. Dentsu Impact’s Gurgaon office, now part of Dentsu Creative, won the account in 2016 before the brand’s launch in India.
This account was much hyped and aspirational among creative agencies at that time. More than 25 agencies participated in the highly competitive pitch back then.
In February 2023, the Swedish furniture retailer appointed Elena Pogosova as the company’s new country commercial manager for the India business.
Recently, Ikea cut prices by 16-39% across its various product categories. Ikea is operating five offline stores and is at the end of its Rs 10,500-crore investment cycle for the country.
Ikea India opened its first retail store in Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad, and Pune in 2019. The second store in India opened at Navi Mumbai, Maharashtra, on December 18, 2020. The retailer entered the Bangalore market in June 2022.
In May 2021, the brand also launched Ikea app on iOS and Android for consumers in Mumbai, Pune, Hyderabad, Ahmedabad, Surat and Baroda.
The company is planning to open its New Delhi store in the next 2-3 years.