Ikea to open first India store at Hyderabad on July 19

Swedish furniture major Ikea will officially foray in the country’s furniture market with its first store in Hyderabad on July 19.
 
Ikea to open first India store at Hyderabad on July 19 - Ikea - Facebook

The opening date, announced by an official from the company, put all speculation to rest.
 
The Hyderabad store is 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 1500 people.
 
“Ikea aims to reach 200 million customers in India in the next three years. There would be 1,000 direct and 1,500 indirect employment at the store and 50 per cent of them would be women. At present, 20 per cent of the Ikea products are locally sourced and the long-term goal is to source 50 per cent or more,” an Ikea Spokesperson was quoted as saying by PTI.
 
After its Hyderabad store inauguration, Ikea is expected to open two flagship stores next year in Mumbai and Bengaluru.
 
“In the long term, Ikea will focus on becoming a multichannel retailer of choice with big and small format stores and online presence (with) up to 30 big and small format stores by 2025,” she said.  “In the long term, we will expand in 40 plus Indian cites,” the spokesperson added.

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