World’s favourite and the biggest furniture brand IKEA, is all set to open its outlet in Delhi NCR. The Swedish furniture giant that has made a staggering ₹ 10,500 crore investment in India is planning to open 25 outlets by 2025 and be present in 49 cities by 2030.
The Swedish furniture company that is opening it’s first store in India in Hyderabad by the beginning of next year, has ambitious plans of opening around five-six outlets in Delhi NCR. In November IKEA Group had won a bid for a land parcel of 10-acres for ₹842 crore in Gurugram from Haryana Urban Development Authority (HUDA) where the company plans to construct one of the six proposed outlets in the National Capital Region. The company also said that the 400,000 sq feet (proposed) store located in sector 47, the heart of Gurugram, will sell over 9500 articles.
Though no such land deal has yet been done in Noida but the Swedish furniture retailer IKEA signed a memorandum of understanding (MoU) with the Uttar Pradesh government, last week to invest over ₹ 5,000 crore in setting up an ‘integrated commercial project’ and opening stores in the state. The investment is expected to help create around 8,000 jobs over the years.
Typically an IKEA store is 400,000 sq feet and since such a large space is difficult to come by, IKEA in India, planing to change it’s model and to open smaller stores, either stand alone or within malls. The company plans a mix of larger and smaller city center format stores across the state and an e-commerce platform to accompany it in the coming months.
They have already acquired land in Bengaluru where the company plans to set up its third outlet after Hyderabad and Mumbai.
For more interesting stories, follow Knocksense Delhi NCR on Facebook. Click on the ‘Like’ button below to like our Facebook page.