Furniture retailer IKEA buys land in Mumbai to open second India store
Furniture World News Desk on
5/24/2016
IKEA Group, the world's largest furniture retailer, announced recently that it has bought land to build a 400,000 square foot (37,000 square metre) store in India's financial capital Mumbai as part of a plan to expand to 25 stores in the country by 2025.
The privately-owned firm said it expects the Mumbai store to get more than 5 million visitors a year.
It will be the Swedish firm's second retail store in India after it opens the first in the southern town of Hyderabad next year.
IKEA is also scouting for land to set up stores in Bengaluru, Delhi and the NCR region around the capital.
IKEA, which has been sourcing from India for its stores worldwide for three decades, plans to add suppliers and double its sourcing volumes by 2020, it said in a statement. Each of its stores in India would employ 500 to 700 workers directly and 1500 indirectly.
More about IKEA: Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 370 IKEA stores in 47 countries, including 41 in the U.S. IKEA has been included in rankings of “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, visit
IKEA-USA.com.