Ikea plans to open an online store in India next year
BI India BureauOct 12, 2018, 01.40 PM
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- After making its Indian debut in Hyderabad,
Ikeais now set to launch its first e-commercestore in Mumbai by 2019.
- Ikea will also make an investment of ₹20 billion at it’s newly launched
- The company aims to open 25 stores in India by 2025.
According to media reports, the store will be spread over 14 acres of land and will house 1000 restaurants. Ikea has decided to employ a total of 2,500 people in Bengaluru, engaged in both direct and indirect services. In order to facilitate the construction, the company will infuse around ₹20 billion in two equal installments.
The company launched its first store in Hyderabad on 9 August. The Hyderabad-based Ikea store has 7,500 products to offer with prices ranging for ₹15 to ₹36,000. Apart from this, the furniture retailer is mulling a plan to invest ₹30 billion in the construction of warehouses in Mumbai, Gurugram, and Bengaluru.
Ikea’s strategy in India pivots on price. It has intentionally kept price of around 1000 products below ₹200. The company reportedly spent 10 years assessing the Indian market before investing ₹800 crores in Hyderabad facility.
Last month, the company said it planned to open 25 retail stores across India by 2020. Furthermore, by 2030, it plans to be present in 49 cities in India.