Ikea’s Rs 1000 Cr Outlet Is Now Open In Hyderabad – Checkout 9 Amazing Facts!
Ikea took 12 years to enter India, as they studied shopping behavior of Indians
Swedish furniture retailer behemoth Ikea has finally opened their first store in India. Their DIY or Do It Yourself furniture and kitchen appliances are a big bit, all over the world.
However, it took them 75 years to come to India!
Their first Indian outlet has been opened in Hyderabad, and is already generating massive interest.
Here are 9 interesting facts about Ikea’s first outlet in India:
Ikea has spent Rs 1000 crore on this single outlet, which is one of the largest in the world. Built across 13-acres at Hitec City, on the outskirts of Hyderabad, this outlet has a 1000-seater restaurant, which is the biggest in the entire world.
Ikea had been studying and decoding Indian market since last 12 years, and in between, they inked several MoUs with various state Governments to speed up the process.
Ikea has spent Rs 1000 crore on their single outlet in Hyderabad. Overall, they have declared investments of Rs 10,000 crore in India, as they plan to open 25 outlets in the next 7 years (2025). $750 million has been spent to procure land for other outlets in Mumbai, Delhi, Bengaluru, Surat, Pune and Kolkata.
Huge Range Of Products
Ikea’s first outlet in India, which is at Hyderabad, will have a 400,000-square-foot showroom. Around 750,000 products would be at display, out of which 1000 products are priced less than Rs 200.
As per reports, Ikea had conducted a deep market research to understand Indian consumers’ mindset and inclinations. And this is the reason they took 12 years to open their first store in India.
Millions Of Visitors
Ikea is expecting 60 lakh visitors to their massive 13-acre campus in Hyderabad. Mumbai, Delhi and Bengaluru will be the cities where Ikea will open their next outlets, followed by Pune, Kolkata, Chennai, Ahmedabad, Surat will be the next. Stores in Mumbai, Bengaluru and Delhi are expected to open by end of 2019.
Business Via Food
Ikea’s first outlet in India will have a 1000-seater restaurant, which is their biggest in the entire world. The restaurant will serve mainly vegetarian dishes, and their hallmark beef and pork meatballs have not been included, respecting India’s culture and tradition.
Ikea has partnered with UrbanClap to offer help in assembling their DIY units. This is again for the first time that Ikea has joined such a partnership, anywhere in the world.
Ikea’s ecommerce business will start from Mumbai next year, wherein shoppers from anywhere in India can buy their furniture.
Did you visit Ikea’s first outlet in Hyderabad? Do share your experience right here!