+
IKEA to invest Rs 60 bn in Maharashtra
WAREHOUSING & LOGISTICS

IKEA to invest Rs 60 bn in Maharashtra

As part of its expansion plans in Maharashtra, IKEA India is planning to invest around Rs 60 billion. In 2021, this Swedish furniture giant is looking to host around five million visitors in its store.

The Swedish company aims for long-term growth opportunities and are planning for investments over the next ten years. Per Hornell, The Market and Expansion Manager of IKEA India added that the company wants to build close to six to eight stores in different formats in Mumbai. Of this, two smaller city centres are for the financial year 2021.

Earlier this year, IKEA India had announced approximately 10,000 jobs in Maharashtra, with 50% of the jobs reserved for women. They intend to hire between 4,000 and 5,000 people with a 50:50 ratio and an equal amount with their suppliers.

The IKEA store located in Navi Mumbai would add to the total demand generation while supporting local communities and offering employment and equal opportunities. Additionally, it will increase the supply chain and concentrate on local production and skill-building. The store hosts the biggest children’s area called Smaland. Furthermore, it includes the largest restaurant with nearly 1,000 seats and is similar to their first store in India in Hyderabad.

Globally, the company has factories set up; however, it does not intend to set up factories in India. Instead, it is looking to invest in its suppliers.

In 2018, IKEA India launched in Hyderabad. Since its launch, IKEA in Hyderabad has managed to make a revenue of Rs 400 crore. They are confident with the market potential in Mumbai and have high expectations for the store. They have an omnichannel approach that will help them achieve higher revenues.

Considering the pandemic, IKEA has reduced the prices of its products to suit consumers. They intend to continue this approach for the remaining fiscal year. Considering the Covid-19 scenario, IKEA's Navi Mumbai store will welcome only customers who have pre-registered.

Image Source

As part of its expansion plans in Maharashtra, IKEA India is planning to invest around Rs 60 billion. In 2021, this Swedish furniture giant is looking to host around five million visitors in its store. The Swedish company aims for long-term growth opportunities and are planning for investments over the next ten years. Per Hornell, The Market and Expansion Manager of IKEA India added that the company wants to build close to six to eight stores in different formats in Mumbai. Of this, two smaller city centres are for the financial year 2021. Earlier this year, IKEA India had announced approximately 10,000 jobs in Maharashtra, with 50% of the jobs reserved for women. They intend to hire between 4,000 and 5,000 people with a 50:50 ratio and an equal amount with their suppliers. The IKEA store located in Navi Mumbai would add to the total demand generation while supporting local communities and offering employment and equal opportunities. Additionally, it will increase the supply chain and concentrate on local production and skill-building. The store hosts the biggest children’s area called Smaland. Furthermore, it includes the largest restaurant with nearly 1,000 seats and is similar to their first store in India in Hyderabad. Globally, the company has factories set up; however, it does not intend to set up factories in India. Instead, it is looking to invest in its suppliers. In 2018, IKEA India launched in Hyderabad. Since its launch, IKEA in Hyderabad has managed to make a revenue of Rs 400 crore. They are confident with the market potential in Mumbai and have high expectations for the store. They have an omnichannel approach that will help them achieve higher revenues. Considering the pandemic, IKEA has reduced the prices of its products to suit consumers. They intend to continue this approach for the remaining fiscal year. Considering the Covid-19 scenario, IKEA's Navi Mumbai store will welcome only customers who have pre-registered. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code