IKEA India to onboard Leo Burnett India as its new creative partner: Sources
On February 20, 2023, Storyboard18 was the first to report that IKEA is on the lookout for a creative agency in India.
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Swedish furniture giant, IKEA, is in the process of onboarding Leo Burnett India as its new creative partner for Indian market. Multiple sources close to the development have confirmed the news to Storyboard18. IKEA’s marketing team was well-invested in the three-month creative pitch, said a close insider to Storyboard18.
Two creative agencies from two different network companies were shortlisted. Interestingly, the marketing team of the brand spoke to all the agencies who participated with feedback. We hear this boosted the confidence of indie shops. In a world where marketers are fishing for ideas, this retailer is giving the pitch process a makeover, said a creative director whose agency participated in the pitch.
Read more: IKEA India calls for creative pitch
On February 20, 2023, Storyboard18 was the first to report that IKEA is on the lookout for a creative agency in India. The pitch process was underway in Bengaluru. Independent shops and agencies from global network companies participated in the pitch process in two rounds. Dentsu Creative in India has worked closely with the brand for its creative campaigns since it's launch here. Last month, Dentsu lost Maruti Suzuki’s Rs1200 crore media account to Mindshare.
Recently, the retailer announced a price cut ranging from 16 to 39 percent across categories in India. With this move, the company aims to make home furnishings more affordable and accessible for the Indian market. Currently, IKEA has stores in Hyderabad, Navi Mumbai, and Bengaluru and is online in Mumbai, Pune, Hyderabad, Gujarat, and Bengaluru. The company also has plans of entering the Chennai market.
For the Indian market, the Swedish firm plans to invest Rs 10,500 crore. During FY22, IKEA in India continued to work on its plans towards positioning, growth and profitability of IKEA's omni-channel business in India. The Swedish furniture retailer also has plans to open small city outlets along with its mega-format stores in India with a strong online presence. The company is tweaking its strategy in the wake of changing consumer behaviour. Last year, interestingly during the festive quarter, Ikea India launched a campaign titled Ghar Aajao. Through the campaign, the company is encouraging people to visit their stores to get the IKEA experience.
