The leading manufacturer of home furnishing products, IKEA has delayed the launch of its debut store in India by a few weeks. The store which was supposed to be inaugurated next week (19th July 2018) will now be opened on 9th August.
The Sweden-based retailer has reportedly said that it wants to ensure that it meets all the quality commitments before it sets foot in the Indian market. The home furnishing retailer said in a statement issued that IKEA has decided to postpone the scheduled opening, as it requires additional time to match the anticipated quality promised towards its consumers and employees.
Peter Betzel, CEO, IKEA Retail India said that, “Opening the first exclusive outlet in India (Hyderabad) is what we are looking forward to and we would like to deliver the best offerings with the brand for the huge customer base in this country.”
Markedly, the debut outlet in Hyderabad is going to be launched nearly after five years, when the company was granted an investment approval of Rs. 10,500 crore to launch 25 stores in the nation by the Government. Additionally, the Hyderabad store has been set up with Rs. 1,000 crore investment and it is spread across 13 acres with built-up space of 400,000 square feet. It will stock more than 7,000 Ikea products. The store would also have Ikea’s largest restaurant with the capability to serve around 1,000 people.
Notably, the Swedish home furnishing store is expecting to create job opportunities for about 1000 people and develop 1,500 jobs indirectly at the store.
