IKEA Hyderabad store launch: IKEA is all set to open its first store in Hyderabad on August 9, Thursday, more than five years after it received the government's nod for 100% FDI in India in single-brand retail.
IKEA Hyderabad store launch: The much-awaited store launch of Swedish furniture maker IKEA in Hyderabad is just a day away. IKEA has made an investment of Rs 1,000 crore on the Hyderabad store, which is spread over 13 acres and has a built-up area of 4 lakh square feet. IKEA is all set to open its first store in Hyderabad on Thursday, more than five years after it received the government’s nod for 100% FDI in India in single-brand retail. The launch has already been delayed from 2017 and then July 19 this year.
As IKEA gears up for the launch of its first India outlet on August 9, Thursday, we take a look at 7 key points about the store:
- Hyderabad IKEA store address: Ikea’s first retail outlet is located at IKEA HITEC City in the Raidurg suburb of Rangareddy district near the IT hub of Hyderabad. Its full address is: IKEA HITEC City, Raidurg, Serilingampally, Mandal, Survey no. 83/1, Plot No.25, 26, Part 29 Panmaqtha, Rangareddy, Hyderabad, 500032, Telangana.
- Store timings: According to information available on the website, the store will be open from 10 am to 11 pm daily.
- Furniture for sale: IKEA’s store will have a variety of items ranging from sofas, beds, and chairs to bookcases, curtains, hangers and more. A Reuters report said that IKEA will sell 1,000 items including cutlery and stuffed toys for less than 200 rupees ($2.91).
- IKEA restaurant: IKEA’s 1,000-seater restaurant will have both Indian and Swedish offerings, including biryani and meatballs, at attractive prices. The restaurant will remain open daily from 9:30 am to 10:30 pm.
- Partnership with UrbanClap: IKEA has also tied up with a mobile-based services marketplace UrbanClap as the furniture assembly service partner in Hyderabad.
- IKEA jobs: According to a report by Reuters, the do-it-yourself (DIY) interior goods is a new concept in India, and in order to get the people of India well adapted to the new culture, IKEA has taken the unusual step of setting up a 150-member in-house task force to help with assembly. The company said that the Hyderabad store will directly employ 950 people and another 1,500 indirectly for various services.
- Expansion plans: IKEA plans to open stores in Mumbai in 2019, followed by Bengaluru and Gurugram. Other cities that IKEA is looking to expand to are Ahmedabad, Surat, Pune, Chennai, and Kolkata. It also plans to open more than 25 stores across India by 2025.