IKEA breaks ground to mark its entry in to the Indian market
IKEA, an international furniture brand, is all set to take over the Indian market with its exclusive range of furniture. Company recently conducted its groundbreaking ceremony in Hyderabad in the presence of various dignitaries including Honorable Deputy Chief Minister, Mohammad Mahmood Ali, Chief Secretary to Telangana Government, Rajiv Sharma, Mayor of Hyderabad, Bonthu Rammohan, Head of Section for Trade, Economic and Cultural Affairs from Swedish Embassy, Ms. Josa Kärre, and many other distinguished guests from various state departments, IKEA suppliers, business partners and IKEA co-workers.
The company is in its expansion spree in India and currently, it is aggressively looking for land in major cities of the country. Hyderabad store will be spread around 4 lakh sqft and its construction is expected to get completed by 2017. This mammoth store will feature over 7,500 home furnishing products.
It will be further equipped with a supervised children’s play area for visitors, day care center for its co-worker’s children, 2000 parking spaces and a 1000 seat restaurant serving Swedish as well as Indian dishes.
Talking on the sidelines of the ground-breaking event, Juvencio Maeztu, Chief Executive Officer, IKEA India, said, “This is a big milestone for us today and all of us are very proud that the first IKEA store in India seems very close to reality now! India is a very important market for IKEA and with Hyderabad, we find a perfect match with cities’ young, dynamic demographics, culture, values and history. We hope to bring our unique home furnishing products and solutions along with modern retail experience to the people of Hyderabad. We have committed to hire 50 per cent women in our workforce and we look forward to a big participation from the society.”