IKEA to invest 1.5 bn euros to expand in India
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IKEA to invest 1.5 bn euros to expand in India

IKEA, the Swedish furniture and home products giant, will be investing 1.5 billion euros for its expansion plans in India. With this investment, the company will focus on launching physical stores as well as online businesses for Delhi, Bengaluru and Mumbai.

IKEA’s 5 lakh square foot store is expected to come up in Nagasandra, in North Bengaluru. Besides this, the furniture brand will also introduce a combination of big and smaller stores and online businesses to tap the Indian market.

IKEA said, “The Bengaluru store will offer a wide range of beautiful and affordable home furnishing solutions for the many people in Karnataka. The IKEA store will have around 2,000 parking spaces and a 1,000-seater restaurant serving Swedish and Indian delicacies. It will also house a supervised children’s play area called “Småland”. Around 7,500 products will be on offer with solutions to create a better and brighter everyday life at home.”

The company is looking at hiring over 700 people for its Bengaluru store.

“So far more than 4 million customers have visited our Hyderabad store. We completed a year of operations in August this year. We are learning every day from Hyderabad. We continue to listen to our customers. The IKEA shopping experience is new for many customers and it has been an exciting journey for them to discover and learn how to shop in IKEA. Indians love food and the IKEA restaurant is very popular. It is the biggest IKEA restaurant with 1,000 seats. We have also learned that Indians are not so used to DIY (do it yourself) and therefore we have created a strong service offer for delivery and assembly services,” the company added.

 
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