Ikea, the world’s largest furniture retailer, is all set to open its first Indian store in Hyderabad on 22nd of November. The store, which is coming up near Hi-Tech city will be spread across 400,000 sq.ft. Ikea is Swedish furniture which was established in the year 1943. It is known for its unique furniture and you’ll find a wide range of affordable and well designed world-class furniture. This conceptual store will be having a setting which makes you have a look at all the designs.
Ikea is planning to invest Rs.700 crore in its Hyderabad store, Juvencio Maeztu, chief executive officer of Ikea India Pvt. Ltd announced in the interactive session held in Forum Mall. The company has bought 13 acres near HITEC City, the software hub of Hyderabad. It is expecting the Hyderabad store to draw 5-6 million customers a year. The store is going to feature 7,500 furniture and home furniture products and a 1,000 seater restaurant serving both Swedish and Indian cuisine.
It is also going to have a play area for children and a day care centre for children of its employees. About 50% of Ikea’s employees are women. It will directly provide employment to 500 employees and also provide indirect employment to 1,500 individuals. Another interesting thing is that the store’s roof top will be fully covered by solar panels to provide the power required for the store. And all the water will be recycled and used for flushing and gardening, thereby making the store a zero wastage facility.
The Hyderabad store will be followed by the second store in Mumbai. The company which operates 328 stores globally, plans to open 25 stores in nine Indian cities in the next 10 years in India. It also plans to double its sourcing from India to 600 million Euros by 2020. Executive at Ikea are leaving no stones unturned to make the store wholesome in all levels. They even visited 500 Indian homes over the last two years to study customer preferences. Its teams also conducted research on the culture and values of the people of Hyderabad to connect more closely with them.
