Home / Knowledge / News / Textiles / Ikea plans to open first Indian store in autumn of 2017
Ikea plans to open first Indian store in autumn of 2017
16
Aug '16
Courtesy: Ikea
Courtesy: Ikea
The world's biggest furniture retailer and Swedish company Ikea broke ground for its first Indian 400,000 sq. feet store in Hyderabad, which it plans to open by the end of 2017.

Unlike most retailers which lease land or rent store space, Ikea purchases real estate and has bought 13 acres in HiTec City, the software hub of Hyderabad and will be investing Rs 700 crore on the store.

This was informed at a press conference by Juvencio Maeztu, chief executive officer of Ikea India Pvt. Ltd, who also revealed that the second store will be set up in Mumbai.

Ikea plans to open 25 stores in nine Indian cities, for which it received government approval earlier to invest Rs 10,500 crore in India under the 100 per cent foreign direct investment route.

The Hyderabad store will have around 7,500 furniture and home furnishing products and also house a 1,000-seater restaurant, apart from a day centre for children of its employees.

The retailer will directly hire 500 employees, while 1,500 persons will be indirectly employed, with 50 per cent of the staff being women.

The store's 3,000 kilowatts energy needs will be met by roof top solar panels, while all the water will be recycled and used for flushing and gardening making it a zero water waste facility. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Apparel/Garments | On 20th Sep 2017

Botswana launches response strategy for US AGOA scheme

Botswana’s ministry of investment trade and Industry (MITI) recently...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search