Ikea All Set To Launch Bengaluru Store; Leases 100,000 Sq Ft Land For A New Store!
The IKEA Group, the Swedish company aims to create well designed, functional and affordable, high-quality home furnishings.
IKEA takes a huge proud while representing almost 163,600 co-workers from all over the world, sharing fundamental humanistic values of togetherness, humbleness, simplicity, cost-consciousness and common sense.
IKEA has been sourcing from India for 30 years for its global stores. In India, it currently has more than 50 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain.
After opening a large-format store in Navi Mumbai, Swedish retail giant IKEA now has designs in Bangalore. It has invested in real estate and plans to explore the small-store format in Whitefield.
IKEA In Mumbai, Pune and Hyderabad
IKEA has set up a 270,000-square-feet distribution centre in Pune in partnership with IndoSpace Industrial Park, which is leased at Rs 20 crore per year. The store opened in Turbhe, Navi Mumbai employs 1,000 direct workers and 1,500 indirect workers across services.
Back in 2020, Kavitha Rao, country commercial manager, IKEA India said“Our ambition is to reach 100 million people in India by 2022. We will establish a strong omnichannel presence in Hyderabad, Mumbai, Bengaluru and Delhi/NCR and are also exploring other opportunities in India. It will be through a combination of big IKEA stores, smaller city-centre stores and an online platform as a selling channel. Our Hyderabad store has completed two years in India and we are online today in Hyderabad, Mumbai and Pune” she added, without disclosing the timeline for the Bengaluru store launch.
Bangalore Store Location
According to the source, IKEA plans to open a small-store format of 100,000 square feet in Whitefield, Bangalore. In addition to its first store in Hyderabad, IKEA purchased a 14-acre parcel of land in Nagasandra, Bangalore, for a large-scale store.
According to Patrik Antoni, Deputy Country Manager, IKEA India, “What we have done special is that how we have composed the products in the room settings. What we are trying to do is to be relevant to the local market. We have done around 1,000 home visits and research was based on how people live and how they want to live and then we are putting our products in a unique way that represents the Indian needs. If you compare the rooms in IKEA Hyderabad to IKEA Sweden, the main difference is how the rooms are composed and products are composed,”
Peter Betzel, CEO, IKEA India, had earlier said small-format stores would be city-centre stores and would have the same look and feel as any other IKEA store. The small-format store in Whitefield will have a smaller range on display, and the presentation will be different.