Thursday, 9 August 2018

Ikea in India | Ikea in Hyderabad

    Ikea in India | Ikea in Hyderabad

Ikea in India | Ikea in Hyderabad
     Image source : Photo by Artem Bali from Pexels

Ikea in India | Ikea in Hyderabad

Well a huge news that came out for us. As IKEA ( Swedish-founded multinational group, that designs and sells ready to assemble furniture, kitchen appliances and home accessories. It has been the world's largest furniture retailer since at least 2008 ) has opened its very first store in India.

Ikea store in India is 37000 square meter and is located in outskirts of southern city of Hyderabad.

Well Ikea invested really big into the indian market. Ikea has already invested 4.5 billion euros ($5.2 billion) into India, Brodin said, adding that this would continue as the firm moves into new cities and e-commerce.

It has already bought land in Hyderabad, Bengaluru, Mumbai and Gurgaon, near Delhi. The Mumbai store will open in 2019, followed by the store in Bengaluru and Gurgaon. The other cities IKEA is looking at are Kolkata, Chennai, Pune and Ahmedabad.

According to its website, Ikea currently has 48 suppliers with approximately 45,000 direct employees already in India. "The commitment that we make is not short term, it is long term," Brodin said.

To meet up with the expectations of Indian customers Ikea in India reduced its prices to even less than 200 rupees for thousand products out of almost 7500 of the total products available in the store.

Ikea realises that the Indian customers are not interested in assembling their furniture by themselves so in order to solve this issue Ikea has set up a 150-strong in-house team to help customers put products together.

According to me one other benefit of Ikea store in India is also that it creates a lot of employment opportunities for the unemployed youngsters. As this is just one store but Ikea has invested as a long term investment plan in India. Ikea also said that half of its work force in India will be women.

So let's wait and see how big this furniture Swedish giant can achieve in India. As they have to really change their strategies as selling a product  in India is bit different from other countries as India has just started to adapt the potential of online market and digital money.

I think its great that big foreign companies are investing in India and creating new employment opportunities.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.