Home / Knowledge / News / Textiles / Ikea's first Indian store to open in Hyd in 2017
Ikea's first Indian store to open in Hyd in 2017
07
Mar '16
Courtesy: Ikea
Courtesy: Ikea
Swedish home furnishing major Ikea has stepped on the gas as it prepares to open its first store in India at Hyderabad in the second half of 2017.

The company, which received government approval in 2013 for its Rs 10,500 crore proposal to open retail stores under 100 per cent FDI, is also looking for more sites in Delhi-NCR, Mumbai and Bengaluru s part of its plans to open 25 stores by 2025 in nine Indian cities.

"We will open our first store in Hyderabad in later half of 2017. Digging for construction of our first store in India started this week," Ikea Asia Pacific Retail President Mikael Palmquist told PTI.
IKEA's first store in Hyderabad will be a massive 4 lakh square feet in size and will include all features of a global IKEA store, including restaurant and play and development area, he added.

Palmquist said Ikea expects its stores in the country to be among "the most visited stores in the world" and hence the company has prepared for it by planning bigger restaurants and more seating capacity to suit high visitation stores.

"After Hyderabad, in the first phase of growth, we plan to open stores in Delhi, Mumbai and Bangalore. We are searching for land in these cities. We want to open more than one stores in locations where our stores come up," the Ikea boss said.

The company said that it will showcase its products from its global portfolio in India based on the taste and requirements of the regions where its stores are located.

Palmquist said compared to China where it has been there for 15 years and opening at a rate of 3 stores a year only now, IKEA will be looking at a much faster growth in India.

"In India I want us to be there earlier, within five years, we should have capability to open three stores a year to hit the 25 (stores)," he added. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Textiles | On 20th Feb 2017

IVL receives distinction for sustainability performance

Indorama Ventures Public Company Limited (IVL), one of the world’s...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search