Ikea begins its multi-channel approach with online store in Mumbai
today Aug 20, 2019
Swedish home furnishings retailer Ikea has entered the financial capital of India with the launch of its online store to cater to consumers in the city of Mumbai.
The online store will offer more than 7,500 products and cater to all locations across the city. The company aims to reach 100 million customers in three years with its multi-channel approach.
Commenting on the launch, Peter Betzel, CEO at Ikea India, said, “India’s retail landscape is changing at a scale and pace not seen before driven by increasing urbanization and changing customer behaviours. To be a key partner to many of India in this journey, Ikea is also transforming.
“Today marks an important occasion in our history as we roll out our multi-channel, digital-first approach with Mumbai being amongst the first few markets worldwide, where we are bringing alive this transformation."
Ikea entered the Indian market with the opening of its first store in Hyderabad last year. It has set a target of 25 stores by 2025 for the Indian market.
Ikea will be opening its next physical store in Mumbai later this year followed by stores in Delhi and Bengaluru. It has earmarked an investment of around Rs 3,000 crore ($406.7 million) to expand its retail network in the coming years.
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