Along with going digital by launching online trade, Ikea is also focusing on building its brand through retail outlets. The company's idea behind this move is to connect with its customers through different modes.
“We are rolling an e-commerce business in many countries of the world and we would also do that in India. We would start with building the brand with Ikea stores with good touch and feel, it would be a combination of both and we would do both in India,” Juvencio Maeztu, CEO, Ikea India told a news agency.
The firm aims to have around 25 stores in India by 2025. Construction has already begun for a retail outlet in Hyderabad which is slated to open by the end of 2017. This store will have close to 7,500 products along with a day care centre for children of its employees and a 1,000-seater restaurant. It will be a zero water waste facility that will meet its 3,000 kilowatts energy needs through roof top solar panels.
Ikea has also bought land for a store in Mumbai and is working on setting up outlets in Bangalore and Delhi. It will open stores in Chennai, Pune, Surat and Ahmedabad as well.
Speaking about Ikea's expansion plans, Maeztu said, “The next cities would be Bangalore and Delhi NCR. From there we are keen to move to cities like Chennai, Pune, Suart, Ahmedabad and we would keep growing like that.”
Ikea had received Indian government's approval to invest Rs 10,500 crore under 100 per cent foreign direct investment. (KD)
Fibre2Fashion News Desk – India
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