IKEA the Swedish home furnishing retailer will be opening its first Indian store in Hyderabad next month. The store is being built on a 13 acre space over 4,00,000 square feet. The new IKEA store will feature over 7,000 products out of which 2,000 will be priced below Rs. 200.
On Thursday, the IKEA Telangana Managing Director John Achillea made the announcement of the new store. The Industry Department of Telangana said it will be inaugurated in June this year.
The IKEA Hyderabad store will feature a 1,000 seater restaurant which will be the largest among all the 400 stores globally. A total of Rs. 1,000 crores was invested in this store. It will create over 800 jobs for people in Hyderabad. The company has promised half the employees will be women.
IKEA plans to have over 25 stores in India by the year 2025. The next store is expected to open in Mumbai by 2019. The Mumbai store will be bigger than the Hyderabad store with 5,00,000 square feet.
At present, IKEA has 403 stores in over 49 countries with sales reaching Rs. 38.3 billion euros. Nearly 783 million customers visit IKEA stores and 2.3 billion people visit the IKEA site.
