The wait is over! IKEA celebrates the launch of its first India store in Hyderabad on August 9th, 20182 months ago Saritha Keshamoni
IKEA, the world’s leading Swedish home furnishings retailer will open the doors of its Hyderabad store, its first in India to customers at 10:00 a.m. on Thursday, August 09, 2018.
This is a landmark moment for IKEA after it got FDI approval in 2013 that allowed 100% FDI for single brand retailers in India. IKEA has been sourcing from India for its global stores for more than 30 years. Its plan to open retail stores in 40+ cities across the country, reinforces its long-term commitment and deep connection with India. IKEA sets out to become a truly unique, meaningful and trusted brand in India, making everyday brighter and better for the many people and this dream seems closer to reality today as we wait to see what the Hyderabad store will offer.
On the occasion, Jesper Brodin, CEO, IKEA Group said, “Today is a proud moment as it marks a major milestone in a journey that started more than 30 years ago when IKEA partnered up with local manufacturers in India. We have a long-term commitment to India, which is an important market for us. We bring an inspiring, affordable and convenient home furnishing offer and we are more than ready to meet and understand the needs, frustrations and dreams in the everyday lives of our customers in India.”
The store is 4,00,000 sq. ft. large and is spread over 13 acres in the heart of Hyderabad’s tech hub HITEC City and promises to be a ‘fun day out’ for the family. It will offer 7,500 affordable, good quality, value for money home furnishing products, all under one roof. The store will remain open 365 days from between 10.00 a.m. – 11:00 p.m.
The IKEA store in Hyderabad will offer ideas, inspiration and solutions. It will exhibit 2 full homes that reflect Life at Home in Hyderabad, besides different room sets based on different parts of the home like bedroom, kitchen, children’s room and living room. It will also have a market hall where you will find home kitchen utensils and accessories, textiles, rugs, lighting, decoration, stationary and even live plants.
The store will house a 1,000-seater restaurant, IKEA’s largest and possibly India’s largest restaurant, a café which will offer coffee, bakes, frozen yogurt and many more for purchase, a kids’ play area named Småland where customers can leave their children safely. The IKEA restaurant will offer 50% Swedish specialities like salmon and chicken and vegetarian meatballs and 50% local delicacies like biryani, samosas, dal makhni in the case of Hyderabad. The food will be very affordable, for example a plate of samosas will cost Rs. 10/-
IKEA’s business idea is based on ambition of reaching the many people with thin wallets. As it sets a goal to reach 200 million people in the next 3 years, the foundation for a strong and relevant offer is affordability and accessibility. IKEA will attract the many different segments in society and not just the few. Everyone is welcome to shop at IKEA. 1000 products will be priced below Rs.200!
Peter Betzel, CEO, IKEA India said, “At IKEA the people, the community and our contribution to safeguarding the health of the planet is the biggest priority. Over the last five years Juvencio Maeztu and the team here have laid a very strong foundation and a solid base for IKEA to be successful. I thank all our friends in India including the government and officials for all the support and partnership to make this dream a reality.”
In terms of the products, the company will be bringing its classic IKEA range along with a small percentage of locally relevant products for the Indian market like masala boxes, pressure cookers, tawas, idli makers, colourful sheets and mattresses made with coconut fibre centre. Customers will also be able to buy global classics like the BILLY bookcase, KLIPPAN sofa, LACK table and POäNG armchair among others.
Welcoming the people of Hyderabad, John Achillea, IKEA Hyderabad Store Manager said, “I am excited to throw open the doors of the first IKEA India store to the many people of Hyderabad and its neighbouring community. Telangana has given us a lot of love over the last few years and now we hope to witness the people of Hyderabad truly enjoying our store that has been built with love. I thank the local officials who have made this day possible. The biggest value we bring is to the many people who have big aspirations for their homes and thin wallets. Our promise is one of value, of quality and of making the everyday life better at home for all of the many people in the state and beyond.”
The IKEA store employs 950 co-workers in Hyderabad directly and 1500 indirectly in services and expects to host close to 7 million visitors each year. IKEA has a non-negotiable commitment to hire 50% women co-workers at all levels in India including forklift drivers and assembling co- workers. It will also come with a strong and affordable service offer including delivery and assembly to help customers who are not familiar with the DIY (Do it yourself) concept just yet!
For the moment, its celebrations all the way, bringing home IKEA to Hyderabad!
About IKEA and IKEA India:
The IKEA vision is to create a better everyday life for the many people and we offer well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. There are currently 403 IKEA stores in 49 countries with a sales volume of 38.3 billion euros. 936 million customers visited IKEA stores in FY17 and more than 2.3 billion people visited IKEA online. Our 194,000 co-workers from all over the world are the inner strength of IKEA, sharing fundamental humanistic values of togetherness, humbleness, simplicity, cost-consciousness and common sense.
The IKEA Group is the first major single brand retailer to get FDI approval and plans to open several stores and multiple touch points across the main cities in India. The first IKEA India store will open in Hyderabad this year, followed by the Navi Mumbai store in 2019. IKEA has four land sites in the states of Telangana, Maharashtra, Karnataka and Delhi/NCR and continues to look for more in other major cities.
IKEA is committed to being people and planet positive and sustainability will be an integral part of business operations whether in the store or the supply chain. IKEA stores will have solar panels, LED lights, water treatment plants and modern waste management systems. IKEA suppliers in India work with good social and environmental practices, as part of their compliance code, making the lives of their co-workers better. IKEA has been sourcing from India for over 30 years for its global stores. In India, it currently has more than 50 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain.