Ikea temporarily shuts India store amid the Covid-19 outbreak
Swedish retailer Ikea has announced that it will shut down its only store in India in the city of Hyderabad from March 20 amid the Covid-19 outbreak in the country.
With the entire country under partial lockdown and government appealing people to stay indoors, Ikea has decided to shut down its store as a precautionary measure to safeguard employees and customers.
Ikea’s online store will, however, be open to customers for shopping.
"We have been listening to the advice of the Indian government, guidance from our global group and customer and co-worker feedback. We have taken a day-by-day and hour-by-hour approach, evolving our assessments and decisions as new information becomes available. We are evaluating and making decisions based on the local situation. In light of this, the Ikea Hyderabad store will be closed from 3 pm Friday 20th March to the public for shopping," Peter Betzel, CEO Ikea India, said in a statement.
Ikea sees huge potential for growth in India and 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) for its expansion in India.
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