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techkenyot.com November 18, 2018


IKEA opens Indias first store in Hyderabad

12 August 2018, 03:33 | Hattie Nash

IKEA opens Indias first store in Hyderabad

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The world's leading Swedish home furnishings retailer received huge response from customers on Thursday. However, the plan has been revised now and it aims to set up 40 stores.

And Siddharth, in charge of a Hyderabad store where customers order bespoke furniture, said Ikea might attract hard-up students but in general people would stick with "quality".

Naveen Chintala, who works with a US-based telecommunications firm in the city, too was pleasantly surprised to find the store a replica of the Sweden outlets. "Economy is strong and it will be booming", he said.

In doing so, it would consider scaling up investments, going for large as well as smaller-format stores besides launching online sales. The e-commerce platform would be launched next year.

IKEA's next store will open in Navi Mumbai in next summer, followed by Bengaluru and Delhi.

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"Hyderabad is just starting point". "We found love for homes is very big in India".

About 40,000 people visited IKEA's first India store on its opening day here, a company spokesperson told IANS.

John Achillea, IKEA's Managing Director for Telangana said, "I am so excited today, we can see so many customers visiting in the building".

The store is 4,00,000 sq. ft. large and is spread over 13 acres in the heart of Hyderabad's tech hub HITEC City and promises to be a "fun day out" for the family.

Differences between Hyderabad and the furniture giant's 355 outlets elsewhere will include a 1,000-seater restaurant, which is its biggest worldwide.

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Laying a greater emphasis on affordability, Ikea has priced over 1,000 products out of total 7,500 below Rs 200.

IKEA has recruited 950 employees for the Hyderabad store and 50 per cent of them are women in tune with its policy. IKEA, according to the company officials, has been sourcing from India for the last 30 years and in value terms crossed the 350 million euro mark, which is about 2,500 crore.

Founded in 1943 by late Swedish entrepreneur Ingvar Kamprad, IKEA now has 403 IKEA stores in 49 countries with a sales volume of 38.3 billion euros.

What began with a score by a music band 'Sare Jahan Se Achacha, Hindustan Hamara, ' amidst the waving of Swedish and Indian flags by IKEA employees, ended up being a hectic affair for the staff at the jam-packed store.

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