The world’s favourite furnishing retailer has acquired 14 acres of land to build a whopping 4.5 lakh sq.ft store in the near future and expects 5 million visitors annually
Swedish furnishing retailer Ikea has some aggressive expansion plans in Bengluru and its India CEO Peter Betzel has maintained that the company will open three stores in Bengaluru in the next few years.
Peter Betzel, CEO India said, “We have a positive value-based vision for the company in India. Home is the most important place in the world and we want to provide a better life to people’s home. This is how our products are built and how they contribute to sustainable and affordable homes. We have been working together to increase supplier base in Karnataka. We have had close to 50 suppliers for over 40 years in Karnataka and this will help us grow our presence in the state once the store is ready and operating. Currently, 45,000 people are working in the supply chain network of the company. We are already sourcing mattress and sofa from Karnataka, and we are looking to expand this in the future.”
He said they were looking to source more products locally, especially from Karnataka. The Bengaluru’s facility site is located at Nagasandra on Tumkuru Road in Bengaluru.