Area IKEA on track to open months ahead of schedule

IKEA's researched for more than a decade before entering the Indian market

IKEA's researched for more than a decade before entering the Indian market

"The experience is the same", explained Rajini Venugopal, IKEA's first Hyderabad store customer, who was greeted with thunderous applause by IKEA staffers queued up to greet customers on the opening day of the megastore spread over 4lakh sft in the city's IT hub of HiTec City.

Many customers were seen enthusiastically checking the prices, taking pictures and comparing them with other online furniture stores. Even on a Friday, the store witnessed rush of people and the company expects the footfall to grow multi-fold in the upcoming weekend.

Ikea is the first foreign mono-brand retailer to gain the government's permission to invest directly in the country and has clear expansion plans for its new markets, having already bought four plots of land.

Besides retail, IKEA said it will also enter e-commerce segment in India by next year, besides exploring small format stores as part of its India expansion plans.

As reported in Hindustan Times, the store manager John Achillea cited that "With a huge crowd from across the city thronging the store in the evening, the IKEA staff found it a bit challenging to regulate the entry. We have long term commitment to India", he said.

Simona Halep easily advances to Rogers Cup final in Montreal
The second set was a similar story, with Stephens going 3-1 up after an early break. Halep has reached the Rogers Cup final for the third time in four years.

Founded in 1943 by late Swedish entrepreneur Ingvar Kamprad, IKEA now has 403 IKEA stores in 49 countries with a sales volume of 38.3 billion euros.

Ikea's first India store, which opened its doors to a huge response by customers on Thursday, offers a world of options for people looking to furnish their homes with products of good quality and yet affordable. We have two ranges.

Alongside standard Ikea furniture, "locally relevant products" such as masala boxes, Indian frying pans, rice cake makers and mattresses with a coconut-fibre centre, will be on offer.

Ikea, which has stores in 49 countries, has a mixed global range with the local needs and realities.

"I will wait and watch", Mohammad Noor, a businessman, told AFP. The publicity blitzing that the company launched in Hyderabad focusing on its for-all-classes nature lead to around 40,000 people thro-nging the store on its inaugural day, leading to traffic jams in its vicinity and leading to a stampede kind of situation at the store. I don't think it will give us much competition.

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