IKEA leases out one lakh sq ft land in Bengaluru
Real Estate

IKEA leases out one lakh sq ft land in Bengaluru

Swedish multinational furniture retail conglomerate IKEA is eyeing a small-store format, spread over 100,000 sq ft, in Whitefield, Bengaluru.

IKEA, which opened its first store in Hyderabad in 2018, has also invested in a 14 acre land parcel in Nagasandra, Bengaluru, for a large format store.

Earlier, IKEA India had told the media that small format stores would be city centre stores and would have the same look and feel as any other IKEA store.

The small format store in Whitefield will have a smaller range on display, and the presentation will be different. IKEA has set up a 270,000 sq ft distribution centre in Pune in partnership with IndoSpace Industrial Park, which is leased at a cost of Rs 20 crore per year. It has also earmarked a Rs 750 crore expansion plan.


4th Indian Cement Review Conference 2021

17-18 March 

Click for event info


Earlier, the company planned a further investment of Rs 100 crore in Pune to add another 250,000 sq ft of space. The Swedish company employs 1,000 people per store and 1,500 people indirectly and also sources 1,000 products locally, pricing them at less than Rs 200 per piece. It sources from 50 local manufactures, and its annual exports from India are worth over Rs 2,555 crore.

The retail giant expects to expand in areas such as merchandising, store operations, supply chain, and allied assembly services.

The first big format store opened in Turbhe, Navi Mumbai, and will. Currently, the company has invested Rs 10,500 crore in India and has spent half that amount till now.

Image Source


Also read: IKEA to launch its first mall in India

Also read: IKEA to invest Rs 60 bn in Maharashtra

Swedish multinational furniture retail conglomerate IKEA is eyeing a small-store format, spread over 100,000 sq ft, in Whitefield, Bengaluru. IKEA, which opened its first store in Hyderabad in 2018, has also invested in a 14 acre land parcel in Nagasandra, Bengaluru, for a large format store. Earlier, IKEA India had told the media that small format stores would be city centre stores and would have the same look and feel as any other IKEA store. The small format store in Whitefield will have a smaller range on display, and the presentation will be different. IKEA has set up a 270,000 sq ft distribution centre in Pune in partnership with IndoSpace Industrial Park, which is leased at a cost of Rs 20 crore per year. It has also earmarked a Rs 750 crore expansion plan.4th Indian Cement Review Conference 202117-18 March Click for event info Earlier, the company planned a further investment of Rs 100 crore in Pune to add another 250,000 sq ft of space. The Swedish company employs 1,000 people per store and 1,500 people indirectly and also sources 1,000 products locally, pricing them at less than Rs 200 per piece. It sources from 50 local manufactures, and its annual exports from India are worth over Rs 2,555 crore. The retail giant expects to expand in areas such as merchandising, store operations, supply chain, and allied assembly services. The first big format store opened in Turbhe, Navi Mumbai, and will. Currently, the company has invested Rs 10,500 crore in India and has spent half that amount till now. Image Source Also read: IKEA to launch its first mall in India Also read: IKEA to invest Rs 60 bn in Maharashtra

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code