IKEA, the Swedish home furnishings company has purchased land in Gurugram, Haryana, its fourth in the country to set up its retail store. It outlined plans to set up 5-6 stores in the Delhi NCR.

This move comes after the company acquired land in Hyderabad, Mumbai and Bengaluru to set up stores.

Its first Indian store is set to open in Hyderabad early next year, followed by Mumbai in early 2019 and subsequently in Bangalore and Gurugram.

The 10-acre site was purchased from Haryana Urban Development Authority and is located in Sector 47, Gurugram. The 4 lakh sq. store will offer 9500 articles and will be full of home furnishing inspirations and great solutions for the home.

Juvencio Maeztu, Chief Executive Officer, IKEA India, in a statement said, “Delhi NCR is a strategic market for IKEA and will be one of our biggest markets in India. Along with retail stores, we will also focus on growing local sourcing and engage with local artisans and communities in many projects.”

This move is part of IKEA’s expansion plans in India. The company in parallel is evaluating more suitable sites in Bangalore, Mumbai, Delhi & NCR and Chennai. It plans to open 25 stores in India by 2025.

Known for its simple design philosophy, the Swedish furnishing major's entry in a retail format is being keenly watched.

IKEA is in the process of growing the Indian manufacturing landscape to maximize local sourcing and exploring sustainable indigenous materials such as bamboo, jute and wood that will add to the global IKEA product range.

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