IKEA Retail, the Swedish Home furnishing company has finally stepped into India with its first store in Hyderabad. The leading manufacturer of home furnishing products inaugurated its debut store in the state’s HITEC City, on August 9.
Earlier the store opening was scheduled in July but got postponed as it needed some more time to live up to its expected quality commitments towards customers and coworkers.
With more than 400 stores, the brand is operational in around 50 countries.
IKEA’S first physical presence has become reality in India nearly after five years, when the company was granted an investment approval of Rs. 10,500 crore to launch 25 stores in the nation by the government.
The Hyderabad store has been set up with Rs. 1,000 crore investment and it is spread across 13 acres with built-up space of 400,000 square feet. More than 7,500 IKEA products at incredible prices have been made available at the store. Over 1,000 products at the store are under Rs. 200. A six-piece bowl set with cutlery for kids costs Rs. 131, for example.
IKEA’S largest restaurant with the capability to serve around 1,000 people is also available at the newly inaugurated store.
After Hyderabad, Mumbai will host IKEA’s second store next year while Bangalore and Delhi NCR will also have IKEA stores soon. Additionally, the company has also opened a distribution point in Pune.