IKEA’s Expansion Plans

Swedish furniture retailing giant IKEA is to open its first store in India in Hyderabad by 2017, even as it scouts for more sites in Delhi -NCR, Mumbai, and Bangalore. The company had received government approval earlier under 100% FDI through opening 25 retail stores by 2025 in nine cities, is now aggressively pursuing its expansion plans in India. We will open our first store in Hyderabad. We are quite bullish about our prospects in Indian market. We are searching land in Delhi, Mumbai, and Bangalore, and want to open more than one store in locations where our store come up, showcasing our products from global portfolio in India based on taste and requirements. Recently the company, he added, announced its plans to invest Rs 2,000-cr to open stores in Haryana, where it will employ about 1,000 people directly and another 3,000 indirectly. Haryana will be the fifth state that IKEA has signed MOUs. The MoU with Haryana was signed during the Haryana Global Investors Summit that concluded recently.