Insta
IKEA Opens Rs 1,500 Crore Store In Navi Mumbai; Another Store In Bengaluru To Open In Next 12 Months
Swarajya Staff
Dec 18, 2020, 11:04 AM | Updated 11:04 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Betting big on its prospects in India, Swedish multinational retailer IKEA which specialises in making and selling furniture has opened its second physical outlet in India, after the first one came up in Hyderabad in 2018, reports Livemint.
The all-new IKEA store has been set up in Maharashtra's Navi Mumbai with an investment of Rs 1,500 crore. With this, IKEA has invested a total of Rs 7,000 crore in India so far. It now has two massive stores and several fulfillment centres in the country. The company is aiming to invest Rs 6,000 crore in Maharashtra alone by 2030.
The Navi Mumbai store will open today (18 December) in an area of over 5.3 lakh square feet, spread across two floors. The store will boast of a 1,000-seater restaurant which will serve both Indian and Swedish cuisines. It will also house the largest shopping section for children in any of the company's stores worldwide. Also, the store will offer 7,000 different products, about 2,000 of which will be locally sourced.
The company expects that once the normalcy returns post the pandemic, the store would attract five million people. Also, the store has already created 600 direct and 300 indirect jobs.
The company also has another such store under construction in Bengaluru which is expected to be launched in coming 12 months. Other than that, the company is aiming to open multiple format stores including a combination of a shopping centre, small stores and big centres in the country.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.