IKEA’s first Indian store to open in Hyderabad on August 9
New Delhi: Promising to provide about 7,500 home furnishing products at attractive prices, Swedish furniture maker IKEA has announced that its first Indian outlet will be launched in Hyderabad on August 9. The launch was earlier planned for July 19 but got delayed.
Google, Microsoft, Uber, Apple etc have set up its prime offices in Hyderabad since the world’s famous IKEA is launching its store tomorrow at Hitech city in Hyderabad. IKEA has got a special status as it is being launched in 13 acres of land in 4 lakhs sft and government is also providing training to the staff who will be working in this store. IT Secretary Jayesh Ranjan will be explaining how IKEA could provide employment to the local youth etc.
Ikea expects to welcome as many as 6 million visitors a year to its 13-acre complex in Hitec City, on the outskirts of Hyderabad. The 400,000-square-foot showroom contains some 7,500 products, of which about 1,000 will sell for less than 200 rupees apiece. It’s the first of 25 stores Ikea plans to open across the nation by 2025.
Ikea’s launch comes at least 12 years after it started studying India, which is poised to overtake the US to become the world’s second-largest middle-class market by 2022. By then, sales of homewares and home furnishings will probably reach $15.3 billion from $12.9 billion last year, according to researcher Euromonitor International.
IKEA Group CEO Jesper Brodin would be present on the launch of the company’s first store in India. The company, which already has 403 stores in 49 countries, has been sourcing its products from India for the last 30 years for its global stores before it got permission for single brand retail FDI.
Before beginning sale of its products, IKEA has been giving a sneak peek to its products and solutions at IKEA Hej HOME in Hyderabad. The furniture maker is coming up with a membership plan under which special discounts will be provided to patrons.
IKEA’s website says they are not yet providing the option of online shopping but shows the prices of various products.
After Hyderabad, IKEA plans to expand into several cities of India in the next few years. Bangalore, Mumbai, Delhi & NCR and Chennai are on its map already.
IKEA’s Hyderabad store has come up with an investment of ₹1,000 crore. This would provide 1,000 direct and 1,500 indirect jobs at the store, and 50% of the employees would be women.