Ikea’s India entry postponed, first store to open August 9

By

Maverick Martins

Published
Jul 13, 2018

Swedish furniture major Ikea has pushed back the launch date of its first India store at Hyderabad from July 19 to August 9 as it wants to complete all quality commitments before entering the Indian market.

“Ikea Retail India decided to move the date as it needs some more time to live up to its expected quality commitments towards customers and co-workers,” in  a statement said Peter Betzel CEO, Ikea Retail India.
 
“Our main priority is to create an inspiring and safe experience for both customers and co-workers. Opening the first Indian Ikea store in Hyderabad means a lot to Ikea and we want to offer the best possible meeting with Ikea for many Indian customers,” he added.

The Hyderabad store has come up with an investment of Rs 1,000 crore and will spread over 13 acres with built up space of 400,000 square feet, it will feature over 7,000 Ikea products and also house Ikea’s largest restaurant at the store with a capacity of 1,000 people.

The store is expected to generate employment for around 1,000 people and create 1,500 indirect jobs at the store.