IKEA Plan 6000cr Invest in Maharashtra in Next 10Years

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Swedish furniture retailer IKEA opened its second Indian store in Navi Mumbai recently and plans to invest ₹6,000 crore in Maharashtra over the next 10 years. Its first big format store in Maharashtra will cover over 5.3 lakh sq ft and will stock over 7,000 home furnishing products. The company also plans to set up two city centre stores in Mumbai.

IKEA will provide over 6000 jobs in the state, of which 50 per cent will be for women, the company was quoted as saying by Indian media reports recently.

IKEA India, part of the Netherlands-based Ingka Group, is also working on its third store in India in Bengaluru, followed by Delhi. Ingka Group is a strategic partner in the IKEA franchise system, operating 378 IKEA stores in 30 countries.

The Navi Mumbai store will house the largest children’s area ‘Smaland’ for IKEA globally, along with one of its largest 1,000-seater restaurants with almost 100 per cent locally-sourced food range, the company was quoted as saying by Indian media reports.

IKEA opened its first retail store in India at Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad and Pune.

The company would also continue to invest in its e-commerce solutions, strengthening g the customer interface and develop logistical capacity under its omni-channel approach.

IKEA aims to reach 100 million Indian customers by 2022 through its omni-channel approach,