India Business

IKEA To Soon Open Its Second Store In Mumbai Later This Year

Written By Digital Desk | Mumbai | Published:

Hack:

  • The Swedish furniture giant received a phenomenal response after launching its first store at Hyderabad in August 2018
  • IKEA's next store will be located in Turbhe MIDC, Navi Mumbai
  • It is the largest furniture retailer in the world since 2008

After opening its first store in India, IKEA is all set to launch its next store in Mumbai. The Swedish furniture giant received a phenomenal response after launching its first store at Hyderabad in August 2018. Now, constructions are underway as IKEA will be coming up with its second store in Navi Mumbai. The store will be located in Turbhe MIDC in Navi Mumbai. While the exact date of opening is not yet declared, one can expect it to open by the end of this year. The company will also be holding a grand ceremony in Bengaluru on October 11.

IKEA Group CEO Jesper Brodin said “"We have a long term commitment to India, which is an important market for us". According to him, opening the first store in India was a milestone in IKEA’s thirty year history and it was just the beginning.

IKEA is known for its minimalistic designs of furnitures and sells ready-to-assemble furnitures. It also retails kitchen appliances and home decor accessories. It is the world’s largest furniture retailer since 2008.


It should be noted that Mumbai alone has a population of more than 22 million with a single IKEA store to be open in coming months. Meanwhile, with a population of about 10 million, IKEA’s home country Sweden has about 16 stores across the country. For expanding its base in India, the company has received an affirmation from the Indian government. From its Rs 10,500 crores budget, it has already invested Rs 1,000 crore in Hyderabad alone.

Brodin added, “As we see big opportunities in India, we believe that we will increase this investment as we continue expansion in India in future. We want to be accessible... we will try our best to speed up our expansion to move quicker than normally we do in IKEA.”

With such a big market in India, IKEA hopes to increase its sales across the country and plans to open more stores following the response it received at Hyderabad. The company has invested more than Rs. 3000 crore for its project in India. It would be soon opening its warehouses in Mumbai, Bengaluru and Delhi-NCR. IKEA also plans to open 25 stores across the country by 2025 - with both offline and online approach.

READ: IKEA Opens Its First Store In Hyderabad, Here's All You Need To Know!

The stores will be opened in the cities of Surat, Pune, Chennai, Ahmedabad, and Kolkata. Commenting on the subsequent recruitments for the store, IKEA India HR Manager Anna-Carin Mansson, said, “Our aim is to recruit 15,000 people...in the coming years”. IKEA plans to hire 50 per cent women at all levels in India.

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