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IKEA finally opens first Indian store

IKEA Hyderabad 725x500

IKEA has finally opened the doors to its Hyderabad store - its first in India.

The store was scheduled to open in July but IKEA delayed the opening, citing a need for 'more time to live up to its expected quality commitments towards customers and coworkers.'

Reuters reported that IKEA is 'betting on India with its growing middle class, but mindful of the relatively high pricing that hit sales when entering China and Australia.'  As such, IKEA has positioned many of its familiar items at a much lower price-points than in the US. 

IKEA recognises that its Indian customers are unaccustomed to DIY furniture - it is traditionally delivered fully assembled - so the company has created a team of 150 staff to help with constructing the goods.  

IKEA intends to invest 105bn rupees in India and has spent around half this so far.  Each store is expected to require an investment of approximately 10mn rupees. The company is looking to attract 200 million customers in India over the next three years. 

A transactional website linked to a planned Mumbai store is expected to launch in 2019.

An IKEA spokesperson said:

"In the long term, IKEA will focus on becoming a multichannel retailer of choice with big and small format stores and online presence (with) up to 30 big and small format stores by 2025," 

"In the long term, we will expand in 40 plus Indian cities."

Source : Insight DIY 

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09 August 2018

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