IKEA Greets India At Hyderabad Store, "Excited To Meet You": 10 Facts

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Swedish home furnishings retailer Ikea will open its Hyderabad store on Thursday, marking the entry of the company into India, with its first store in the country.

It's the first of 25 stores Ikea plans to open across the nation by 2025. Their DIY or Do It Yourself furniture and kitchen appliances are a big bit, all over the world.

The new IKEA store in Hyderabad.

"We bring an inspiring, affordable and convenient home furnishing offer", Jesper Brodin said a day before the grand opening of the furniture giant's vast store on the outskirts of the southern city of Hyderabad.

"For me and for us, there is a logic to what India is doing".

Those rules have been relaxed, and Ikea is planning stores in Mumbai, Bangalore and a suburb of New Delhi in the coming years. After Hyderabad, the company would be opening stores next in Mumabai, Bengaluru and National Capital Region.

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Sweden-based furniture retail company, IKEA opened its first store in India today. Also, in the decade it took IKEA to enter the Indian market, quite a few startups today offer quirky designs and at home delivery for furniture - such as Urban Ladder, Not So Shabby and others. Out of these, roughly 1,000 products will be available for under Rs 200, IKEA said in an official statement, as reported by the Times of India.

IKEA had also emphasised earlier that in the next five years as much as 30 per cent of products it sells in India will be sourced locally. "This resonates closely with the demands of an average Indian consumer". Rs 1,000 crore (140 million euros) investment per store. Chicken and vegetarian meatballs, for 129 rupees a serve, will replace the traditional Swedish ones made with beef and pork.

"It would be interesting to see how IKEA does justice to its vision of "furniture for all", she said. "It's just an hour from my home and it will be within my budget". In the furniture section, you can use the touch screen facility to understand your need and then find the price range and order it.

For each store it opens, IKEA plans to have between 800-1,000 co-workers, which will be a mix of internationally experienced workers and locally recruited. "One is the Swedish unique range and one is the local range", the company said.

Bezos has been so determined to win India, a market of 1.3 billion people (mostly millennials, too), because the e-commerce giant's online retail market share in the country is expected to grow to $200 billion in 2026, from $15 billion in 2016, according to research from Morgan Stanley.

Nevertheless, analyst Sowmya Adiraju at researcher Euromonitor International said the target audience for many current IKEA products, especially big-ticket items, seemed to be the wealthier end of India's middle class.

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