IKEA’s 1st outlet in India to open in Hyderabad on July 19

Source: http://www.fibre2fashion.com

Swedish retail giant IKEA’s first India outlet will open in information technology hub of Madhapur Hyderabad on July 19, IKEA’s India CEO Peter Betzel said recently. With an investment of ₹1,000 crore, the store will employ 1,000 workers, stock 7,500 kind of products and will house IKEA’s largest restaurant in the world with 1,000 seats.

The store’s parking space will have a capacity of 2,000 cars.

IKEA will also offer for the first time in the world home delivery-cum-furniture assembly through this store. A team of 150 employees will assemble furniture for customers at home, though globally it goes by the do-it-yourself (DIY) concept, Indian media reports quoted Betzel as saying.

The company wants to have stores, including large and small format, in 49 big Indian cities and will foray into online sales next year in Mumbai.

The new store will have a local sourcing of about 20 per cent at the beginning, which may go up to 30 per cent in the next five years, he added.

Categories: Asia, Business, India, Technology

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