Swedish home furnishing brand, IKEA launched its fourth Indian store in Bengaluru. It currently has one store in Hyderabad and two stores in Mumbai. With the new launch, the company said it sees a long-term commitment to Karnataka and has planned a cumulative investment of ₹3,000 crore in the State, including what it has already done in the Bengaluru store. It expects five million shoppers at it's newly launched store.
Susanne Pulverer, Chief Executive Officer and Chief Sustainability Officer at IKEA India, said, “We have a long-term commitment to Karnataka to create a positive impact on the local economy through our business. IKEA India will be a strong contributor to increasing the overall home furnishing market. It will give opportunities for a growing ecosystem for the whole industry, including growing people and skills.”
She added that Ikea wants to bring their passion and knowledge for home furnishing to the people of Karnataka and contribute to better lives at home.
The 460,000-sq ft store is spread over 12.2 acres. It will feature more than 7,000 well-designed, affordable, quality, functional, and sustainable home furnishing products along with 65+ room sets for ideas and inspirations. Additionally, the store will also house one of the largest children’s play areas, ‘Småland’ along with a 1,000-seater restaurant and a bistro serving a mix of Swedish and Indian delicacies.
“IKEA Nagasandra will serve as a one-stop destination for all your home furnishing requirements. Our unique and affordable IKEA range will cater to the wants and needs of the whole family because there is something for everyone at IKEA,” said Anje Heim, Market Manager, IKEA Nagasandra.
IKEA has employed 1,000 workers at its new store with 72 per cent of them being local workers. IKEA aims to hire 10,000+ people across the country by 2030, the CEO added.
Ingka Group, the largest IKEA franchisee, operates 469 IKEA stores, shops, and planning studios in 63 markets and, 47 Ingka Centres meeting places. With over 5 billion visits online and 775 million IKEA store visits, IKEA is truly reaching out to many more people in an omnichannel way. The Ingka revenue for FY21 is close to 42 billion euros. The company is working to achieve the commitment to become a climate-positive and circular business by 2030. EUR 6.5 billion has been committed as investments in renewable energy.