Ikea holds its first Hej Home exhibition in Hyderabad, showcases furnishing solutions ahead of formal launch
More than five years ago, IKEA had made a pledge for an investment of Rs 10,500 cr for India market
Ikea on Wednesday opened its first experiential centre Ikea Hej Home in Hyderabad ahead of an official launch of its store in India. IKEA Hej HOME which has been designed for a six month time, will familiarise customers with IKEA home furnishing solutions, PTI reported Wednesday.
"The first store will open in Hyderabad in spring 2018. We have ambitious plans and decided to open 25 stores by 2025. Its a very holistic expansion plan," said Patrik Antoni, deputy country manager of IKEA India.
After the Hyderabad store, the second store will open in Mumbai during 2019, followed by Bengaluru and Delhi NCR. IKEA plans to bring Hej HOME to the other cities where it will open stores.
The €35-billion Swedish furniture giant has indicated it will start a store in India after a gap of five-and-a-half years when the company had made a pledge for an investment of Rs 10,500 crore for India. The country offers a bigger opportunity for furniture players.
At present IKEA sells its range of products -- Stenlille rugs, Kivik sofas, Kvistbro storage tables and Poang armchairs -- through its 403 outlets spread across 51 countries, the report added.
The company which is the largest foreign investor in country’s single brand retail segment will inaugurate its Hej Home -- an experience centre cum a miniature version of its signature store -- in southern Indian city of Hyderabad on Wednesday.
“India would be lowest priced market after the launch,” John Achillea, managing director, IKEA Telangana told Business Standard while adding prior to that it was Poland which was company’s lowest priced market.
India will be 52nd country where the company will have its store before that Serbia was its latest market. Its managing director further said the company will sale some 200 to 300 products for a price not exceeding Rs 200.
The price range will vary from Rs 50 to a few lakhs as the final price range has still not been decided, Achillea added. IKEA will put on display a 786 square feet home meant for a family of four. Earlier, the company had opened its Hej Homes in South Korea, China and Japan.
The missile system has been developed by the Defence Research & Development Laboratory, Hyderabad, in collaboration with other DRDO laboratories
The experienced attacking mid-fielder, who can operate in multiple roles, joins Manolo Marquez's side from last-season's runners-up ATK Mohun Bagan.
Telangana Congress chief, senior leaders put under 'house arrest' ahead of protest Kokapet land auctions
A Revanth Reddy, Congress Lok Sabha member from Malkajgiri, had alleged that there were irregularities to the tune of Rs 1,000 crore in the e-auction of lands in Kokapet conducted by the Telangana government last week