IKEA All Set to Open Second Store in India

Swedish furniture retail company IKEA is all set to open its second store in India on December 18, 2020, two years after it opened its first store in Hyderabad in 2018. This is the first of the 40 plus outlets the world's largest furniture retailer is planning to open

BY Realty Plus
Published - Monday, 07 Dec, 2020

IKEA All Set to Open Second Store in India

Swedish furniture retail company IKEA is all set to open its second store in India on December 18, 2020, two years after it opened its first store in Hyderabad in 2018. This is the first of the 40 plus outlets the world's largest furniture retailer is planning to open in India. The over 5 lakh square sq. ft. Ikea store, located on the Thane-Belapur road, will offer a range of 7,000 products. Crowd management is also expected to be key for Ikea, given the Covid-19 pandemic and its experience in the past in India. The launch of the Navi Mumbai store, though delayed, said experts, indicates that the company has not abandoned its big-box retail plans in India. Next in line will be mega stores in cities such as Gurgaon and Bengaluru, though timelines for launch have not been specified yet. The company will also launch two more city-centre or smaller stores in 2021 in Mumbai to reach a wider audience. Peter Betzel, CEO & Chief Sustainability Officer, IKEA India, said that Mumbai was one of the firm's top priority markets in India, where it was experimenting with a hybrid model. This included small, large and e-stores to ensure the brand could reach consumers easily. Learnings from here are expected to be put to use in other mega cities in the country.