On July 19, IKEA, world’s largest furniture retailer, will open its doors in India, with the launch of its first store in Hyderabad. The store spread over 4 lakh sq ft in the upmarket Cyberabad area has seen an investment of Rs 1,000 crore. The store has been designed with inputs from teams that visited a thousand homes across cities to study people’s preferences and needs. The Swedish major took four years to set up the store, with almost three years going for land acquisition, design and construction, product sourcing and recruitment.
It will have 1,000 employees, 50 per cent of them women. The company will source up to 20 per cent of products from local manufacturers. It will offer a range of 7,500 products, several of them made to typical Indian needs, jointly by teams here and in Sweden.
The Telangana government has provided several sops and support in identifying land for the IKEA project, which it has been projecting as a coup in big brand foreign investment.