Stove Kraft Ltd on Thursday announced that it has entered into a strategic partnership with IKEA to develop a range of cookware to be sold through IKEA’s global network of stores from 2026. In an exchange filing, the company informed that the manufacturing facility for this partnership is being housed in a built up area of 180,000 sqft at its Harohalli campus.
In the filing, Stove Kraft said, “We are delighted to inform you that Stove Kraft Limited has been chosen by IKEA (Global Retail Chain) as supply partner. As part of this partnership, the company will develop a range of cookware to be sold through IKEA’s global network of stores from 2026.”
Also ReadNHPC in talks with Bhutan govt for hydro power JV
The development aligns with the company’s strategic objective of expanding its global footprint and strengthening its presence in international markets. “The partnership with IKEA will also bring in global best practices in manufacturing and supply chain processes,” it added.
Also Read Meet Aurora, Elon Musk’s new AI photo generator: All you need to know Magicpin spices up food delivery with local focus Mahindra University, Airbus forge strategic partnership to advance aerospace and digital technologies Ericsson partners with Bharti Airtel for network transformation and 5G deployment
Earlier in October, Stove Kraft had released its fiscal second quarter earnings with profit at Rs 16.72 crore, marginally higher than Rs 16.53 crore recorded during the same period of previous financial year. It had posted revenue from operations at Rs 418.31 crore, reporting a growth of 10.15 per cent as against Rs 379.77 crore during the second quarter of FY24.
Rajendra Gandhi, Managing Director, Stove Kraft, had said, “Our expansion of Pigeon outlets through the COCO and COFO model has been promising; this quarter, we added 22 new stores, bringing our total to 213. Additionally, we focused on improving operational efficiency, successfully reducing our working capital days to 44.”
» Read More
