Ikea Will Launch Their 1st Mall In Noida; Will Invest Rs 5500 Crore To Launch 3 Outlets In These Cities

IKEA is a Swedish multinational company, founded in Sweden in 1943 by Ingvar Kamprad, that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other useful goods and occasionally home services. It also happens to be the world’s largest furniture retailer since 2008.

With over 400 stores worldwide, IKEA sells affordable household items to millions of customers.

New Mall In Noida

It is in our story today as soon, we shall see an IKEA shopping centre in in the city of Noida on the outskirts of Delhi after the furniture giant revealed that it has bought a 48,000-square-metre plot for its shopping centres business, which happens to be world’s largest.

In 2018, IKEA opened its first store in Hyderabad, following which it said that it would develop the new site into a mall anchored by an IKEA store in Mumbai in 2020.

Ingka Centres has 45 IKEA store-anchored malls across Europe, Russia and China. It has planned to invest nearly Rs 5,500 crore ($759 million) in the Noida project. Also, it plans to enter the United States in 2021.

In an email statement it said that a more detailed plan of the project shall be revealed in near future. In the coming years, across its existing markets the United States, Ingka Centres plans to enter around 45 large cities.

After the restrictions which prohibited malls and stores to run due to  COVID-19, month of October saw visitors returning quickly to its malls. Ingka Group, which owns Ingka Centres, also owns most IKEA stores worldwide.

In the presence of CM of Uttar Pradesh, Yogi Adityanath, a MoU with IKEA was signed virtually. A 50,000 square meters of land in Noida has been provided by state government to IKEA, which shall in turn build one of its biggest outlets.

Affordability & Accessibility For Indians

IKEA entered the Indian market with a crystal clear strategy of providing Affordability & Accessibility. They wanted to offer an aesthetic experience at the lowest price possible.

For what will be the IKEA’s first ‘meeting place’ with a shopping, entertainment and business centre, the UP government allotted 12.3 acres in the city.

Noida Authority CEO Ritu Maheshwari said that this project would be of great economic significance as it shall create opportunity of trade and employment. It shall create jobs for 2,000 persons. The company will sell its products online as well as open franchises and showrooms in different cities according to experts.