IKEA to open first store in Hyderabad

Suresh Dharur

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Tribune News Service

Hyderabad, August 30

Swedish furniture major IKEA is set to open its first retail store in Hyderabad in April next year. “We will open our first store in India at Hyderabad followed by Mumbai and Bengaluru. We can’t say exact date of launching the store, but hopefully it will be before April 2018. Works are in progress,” said Patrik Antoni, deputy country manager, IKEA India.

The company will invest Rs 1,000 crore in the 13-acre Hyderabad store at the city’s IT hub near Gachibowli.

It is planning to open 25 stores over next 10 years in India. It also plans to double its sourcing from India to 600 million Euros by 2020.

The Hyderabad facility would be followed by stores in Mumbai, Bengaluru and Delhi NCR. 

Plans 25 outlets in 10 years

• The company will invest Rs 1,000 crore in the 13-acre Hyderabad store for which the foundation stone was laid in August last year
• The company is planning to open 25 stores over next 10 years in India. It also plans to double its sourcing from India to 600 million Euros by 2020
• The Hyderabad facility will be followed by stores in Mumbai, Bengaluru and Delhi NCR