IKEA Third Mega Store to Open in Bengaluru in April-May
Ikea, the Sweden-based global furniture retailer known for its frugal and efficient products, is likely to open its third mega store in India in Bangalore around April. IKEA’s India CEO Peter Bezel said the company is on track to open its first store in Bangalore in ‘early summer’, which will make Bangalore the third city to get such a store after Hyderabad and Mumbai. IKEA began its expansion into the Indian market with its first large store format in Hyderabad in August 2018. The sprawling store soon broke several records, including for the highest amount of in-store food consumed. True to its Scandinavian roots, IKEA focuses on function, utility and efficiency over looks and grandeur — which has helped it create a strong affinity among customers looking for value-for-money furniture that is also sturdy, useful and comfortable at the same time. Scandinavians, due to their historical struggle against the elements in an icy geography, are renowned for their no-nonsense, utilitarian approach to problem solving. On IKEA’s plans in India, Bezel said his company will continue to focus on both the smaller format as well as the traditional, sprawling format. The small format store will offer the entire range of furniture available with IKEA India, but with limited inventory for immediate take-away. For those who are located outside these cities, customers can also order IKEA products online if the delivery address is located in Pune, Ahmedabad, Surat, Vadodara or Bengaluru at present. Bezel hinted that more cities would be added to the above list. “We are long-term committed to India and want to reach 200 mln people by 2025 and 500 mln in another five years,” he said.
Tags : ALLIED Bengaluru IKEA Expansion Furniture retailer Indian Market Value for money Scandinavian