In a milestone that's been more than a decade in the making, the Swedish furniture retailer's first India store opens today. It has localized its India offering - from the food menu to its "do-it-yourself" (DIY) assembly model - to ensure success and woo cost-conscious shoppers.The store built on a 13-acre land in Hyderabad will offer 1,000 products including cutlery, stuffed toys, hangers and container boxes priced under Rs. 200 - cheaper than in most countries to cater to the world's fastest-growing middle class.
IKEA has visited more than 800 homes in the country to see how people live and the launch today comes at least 12 years after it started studying India. It has further invested more than 10 billion rupees on its first foray in India.Its opening, set for July 19, was postponed by three weeks to give the store more time to live up to its expected quality commitments towards customers and co-workers.
The cafeteria in Ikea's new store will have 1,000 seats; what it won't have is Swedish beef meatballs to cater to Indian sensitivities. The pork-and-beef dish will be dropped from the menu in favor of chicken meatballs, biryani, samosas and vegetarian hotdogs. The company officials said last year that they plan to open 25 stores in India by 2025.
Here are the Highlights of IKEA's First India Store Launch:
The store on the outskirts of Hyderabad is the first of 25 such outlets planned to be set up in India in the next seven years. "We are super excited to finally meet you, Hyderabad," IKEA India wrote on Instagram."
Minister @KTRTRS arrived at #IKEAHyderabad store for its official launch today. Klas Molin, Ambassador, @swedeninIndia, Jesper Brodin, CEO, IKEA Group and Peter Betzel, CEO, IKEA India welcomed the Minister. pic.twitter.com/yPRspVY3uA- Min IT, Telangana (@MinIT_Telangana) August 9, 2018
The store, that will be opened on Thursday, will house some 7,500 products of the Swedish brand. IKEA has invested over Rs 10 billion for its India foray and eyes to open stores in all major cities in the country over the next few years.