Opening of Hyderabad IKEA Store - ఐకే హైదరాబాద్ ఓపెనింగ్

IKEA kicks off its India journey from Hyderabad; check what the store has to offer

Swedish home furnishings major IKEA today opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country's single-brand retail sector. The first store in Hyderabad has a floor area of 40,000 sq feet with 1000 products on offer. The company, which has employed 950 people directly and another 1,500 indirectly at its store here, plans to hire 15,000 in the coming years as it expands operations in India. As IKEA kicks off its India journey, check the new Hyderabad store here.

The company has already invested 4.5 billion euros ($5.2 billion) into India, Brodin said, adding that this would continue as the firm moves into new cities and e-commerce.

Ikea's next store is planned to open in Mumbai in the summer of next year, followed by another in Bangalore in 2020. But, the firm has been shifting its strategy in more established markets towards city center showrooms to support the rise of online shopping — a tactic that may also be brought to India.

Ikea aims to provide e-commerce to Indian consumers in 2019, Brodin told CNBC.

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