IKEA gets 23,000 acre land in Navi Mumbai, to open 400,00 sqt feet store
Advertisement
Advertisement
The 23-acre site in
"Maharashtra is one of the most important markets for IKEA. Along with setting up retail stores, we will expand our supplier landscape and grow local sourcing as much as possible,"
According to Maeztu, each IKEA store will employ 500-700 workers directly and another 1,500 indirectly, engaged in providing services. "We are committed to having 50% women in our organisation at all levels and giving equal opportunities to all," he said.
IKEA, which received government approval for its Rs 10,500 crore proposal to open fully owned retail stores in the country in 2013, plans to open 25 stores by 2025 in nine Indian cities including Bengaluru, Mumbai and Delhi-NCR. It recently signed a memorandum of understanding with Haryana government and said it will invest an estimated Rs 2,000 crore to open stores in the state.
Advertisement
The company expects its Navi Mumbai store to attract more than 5 million visitors each year once it's operational.
IKEA has been sourcing from India for the last 30 years and it plans to double its sourcing volumes by 2020. Through it 50 suppliers, IKEA today employs 45,000 people directly and about 400,000 in the extended supply chain. It has recently organized three "Make More in India" campaigns, including one in Mumbai to look for new suppliers.
Advertisement
- Should you be worried about the potential side-effects of the Covishield vaccine?
- India T20 World Cup squad: KulCha back on menu, KL Rahul dropped
- Sales of homes priced over ₹4 crore rise 10% in Jan-Mar in top 7 cities: CBRE
- Gold prices fluctuate as geopolitical tensions ease; US Fed meeting, payroll data to affect prices this week
- Best beaches to visit in Goa in 2024
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market